Navigating BRI in CLMV: Political economy aspects and their implications on relations with China

Abstract

Belt and Road Initiative (BRI) since its inception has emerged as a global framework that has implications in economic and political domains in partner countries. The inception of BRI and its active international promotion by China has involved its provincial governments, State Operated Entities (SOEs) as well as private players in China’s international engagements. In the CLMV (Cambodia, Laos, Myanmar and Vietnam) countries, BRI emerged as a crucial framework for attracting investments and finance that would provide thrust to their economic growth. Despite its role in promotion of international economic cooperation, BRI projects have also faced several challenges. The processes involving negotiations, execution and governance of BRI projects in CLMV countries create opportunities and challenges in political and economic domain. The article aims to evaluate the domestic implications of BRI in host countries to understand its role in shaping perception of CLMV countries and their relations with China. It analyses the quantitative and qualitative aspects of BRI in CLMV countries through examination of primary and secondary sources as well as interviews with policy experts in India, Cambodia and Vietnam.