The Belt and Road Initiative and the Maritime Sector in the Context of US-China Rivalry

Bülent Hoca and Mehmet Ufuk Tutan

Fiscaoeconomia, 2025, issue 4

Abstract: Today, the global economy and forms of international integration are undergoing rapid transformation, leading to significant changes in international trade. During the era of globalization, the People’s Republic of China (China) experienced a remarkable economic rise, and the severe impact of the 2008 global financial crisis caused notable disruptions. In the aftermath of the crisis, China’s domestic and international initiatives have increasingly faced criticism, particularly from the West and the United States. While the previous phase of globalization appears to have come to an end, what will replace it remains uncertain. These critical shifts in international trade have also generated significant implications for the maritime industry, a vital component of global commerce. Accordingly, this study aims to contribute to the understanding of the uncertainties arising from the intensifying U.S.-China rivalry, both in general and specifically within the maritime sector. This study adopts a critical international political economy perspective to analyze economic and geopolitical competition, focusing on its effects on the maritime industry through the case study of the Belt and Road Initiative (BRI). Utilizing an extensive literature review and secondary data, the study concludes by discussing the potential risks and opportunities that the BRI’s infrastructure investments—spanning from Asia to Europe and South America—may present for the maritime sector.

Keywords: US-China Rivalry; Belt and Road Initiative; Maritime Industry; Critical International Political Economy (search for similar items in EconPapers)
JEL-codes: F10 F65 G01 P16 (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:fis:journl:250407

DOI: 10.25295/fsecon.1673086

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