A new era of international economic cooperation

WITH an increasingly interdependent world economy, international economic cooperation is typically used to facilitate the processes of trade and investment. However, we see dramatic changes in the traditional definitions and functions of international economic cooperation. This has heightened the desire to revise the traditional international economic cooperation policies. One such move is through the introduction of the “Belt and Road Initiative (BRI)” by China.

Among others, the BRI redefines international economic cooperation in two ways.