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http://dx.doi.org/10.5392/JKCA.2019.19.11.297

China's 'One Belt and One Load' and China's Economic Status  

Heur, Heung-Ho (목원대학교 중국학과)
Publication Information
The Journal of the Korea Contents Association / v.19, no.11, 2019 , pp. 297-313 More about this Journal
Abstract
China's 'One Belt and One Load' is a national development strategy that aims to develop China and Eurasian Economic Area into a single economic Area by overland and sea routes. Thus, China's 'One Belt and One Load' construction will be a new engine for China and global economic development. At the same time, expected to have a significant impact on the international economic order and the enhancement the status of the Chinese economy. First of all, 'One Belt and One Load' will contribute to China's social stability by reducing the development gap between the East and West regions to some extent, as well as solving the problems of overcapacity and overproduction in China. Moreover, with a stable supply of energy resources, it will also contribute to the stable development of the Chinese economy. China's 'One Belt and One Load' will also enhance China's status by enhancing the level of Chinese influence and RMB in the international economy, in addition to the economic development of China and 'One Belt and One Load' consecutive countries. In particular, it will weaken the influence of the US, which has dominated the hegemony in the international community. Therefore, Korea, which maintains close economic relations with China, needs to prepare for countermeasures by closely monitoring the change in China's status as a result of China's 'One Belt and One Load' construction.
Keywords
Chinese Economy; One Belt and One Load; National Development Strategy; International Economy; RMB; Silk load; AIIB;
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