Institutional Perspective and Political Economic Analysis of Chinese Economic Engagement in CEE1 within the EU Framework

Abstract

After the profound international political and economic change followed by financial crisis, the global power has shifted gradually from the West to the East. The rise of global protectionism, unilateralism and nationalism led by the US is constantly challenging the existing international systems. As a new rising power, China has made proactive efforts to exert its role in the international arena, and has started to show its ambitions in international relations with the “Belt and Road Initiative” in 2013, aiming to build the connectivity between China and Europe, two great players in global economy. In 2012, China took the initiative to establish the economic cooperation with Central and Eastern European (CEE) countries under “16+1” framework, as a sub-strategy of Belt and Road Initiative, which provoked a heated debate among Europe. The co-existence of economic interests and political concerns from China’s engagement in CEECs lead to the different responses from the EU member states. The questions remain that what are the responses from the EU institutions and its implications for the further China’s economic cooperation with the CEE.