Fighting monopolies: the Chinese Belt and Road Initiative, India, and the competition for the marketplace of international development

Amitendu Palit and Preety Bhogal

Asia Pacific Business Review, 2024, vol. 30, issue 2, 350-375

Abstract: Employing insights provided by the theory of monopolistic markets in economics and Great Power behaviour in the discipline of international relations, this paper aims to provide an alternative understanding of India’s refusal to join the BRI beyond the immediate bilateral security, domestic politics, and economic considerations in Sino-Indian relations. We argue that BRI is an effort by China to position itself as the leading firm in the market for international development – a space for long dominated by Western development providers. The paper argues that India’s efforts to contest the BRI can be seen as a natural outcome of other rising powers resisting China’s efforts to monopolize the development market. In doing so, it provides a template of why rising powers compete with each other in providing developmental aid even when cooperation may create mutual benefits.

Date: 2024
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DOI: 10.1080/13602381.2022.2093536

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