Achieving Regional Integration through BRI (A Case Study of CPEC & BCIM-EC)

Abstract

South Asia suffers from number of socio-economic and political problems that restricted the overall growth and development of the region. To address these problems, there is a dire need to build up infrastructure and enhance regional connectivity. This study argues that Belt & Road Initiative (BRI) of China is one of the greatest connectivity projects on one hand that can benefit South Asia through its two of understudied economic corridors specified for South Asia and a soft hegemonic move to dominate in world. The main research question of this study is to explore the prospects of trade, investment, infrastructure development and social relations that can be enhanced through these two corridors among the major participating countries of South Asia. It also studies geostrategic gains and losses for the participating countries of these corridors. A combined study of these two corridors with respect to their potentials for South Asia and geostrategic gains and losses of the participating countries is also limited that gave a research gap to fill. This study is mainly interpreted under theories of complex interdependence and prospect theory. This is primarily a qualitative study based on the primary and secondary data collected from various interviews, official documents, policies, reports, comments, opinion and statements of various scholars and leaders of participating states. This study finds out that these two corridors if executed can greatly help in uplifting South Asia through building infrastructure development projects like Gwadar Port, Chittagong Port and various networks of corridors both rail and road based. It paves the way for the regional connectivity and economic integration in short term and may achieve regional integration in the end if the participating countries amicably negotiate their geostrategic gains and losses. India, one of the antagonists of these corridors needs to review its policy towards BRI and China to also endeavor for accommodating India’s reservations for the larger interest of region. Keywords: Belt and Road Initiative, Silk Road Economic Belt, 21st Century Maritime Silk Road, China-Pakistan Economic Corridor, Bangladesh-China-India-Myanmar-Economic Corridor, Sea Lines of Communications, Regional Integration, Gwadar Port, Geostrategic Gains and Losses