China's “One Belt, One Road” initiative - the perspective of the European Union

Abstract

The idea of  the “One Belt, One Road” will promote the China as a soft power and attractive player in the global market. It is related to China’s perception of global changes brought about by financial crisis, and growing world-wide interdependence. Beijing’s initiative aims on the potential for increased economic exchanges between China and Europe. In fact, the One Belt, One Road (OBOR) can be called a comprehensive domestic and foreign policy concept. Historically, the concept of the “Silk Road” was not only about trade, but also had significant cultural meaning. The OBOR initiative could serve as a cultural bridge between Europe and China, which should not only be understood as “two markets” and “two forces,” but also as “two civilizations”. This concept might be especially profitable for Central and Eastern European countries which focus on strengthening relations with the PRC after years of mutual insignificance and strive for balancing huge trade deficit and attracting Chinese investments.