This study investigates the impact of the Belt and Road Initiative (BRI) on the construction sector in Southeast Asia, focusing on Thailand, Malaysia, and Cambodia. Qualitative research approach is used to analyze the implications of Chinese investments in these countries, exploring both the opportunities and challenges faced by Chinese investors. Key research questions address the resilience of the construction sector, the obstacles encountered by investors, and the influence of policy on the construction business. Through interviews with CEOs and senior managers of major construction companies and a review of relevant documents, the study uncovers the economic and geopolitical motivations behind China’s BRI strategy. The findings reveal significant insights into the benefits and drawbacks of BRI financing, providing recommendations for overcoming challenges and leveraging future opportunities in Southeast Asian construction sectors.

The paper examines the motivations, financing, expansion and challenges of the Belt and Road Initiative (BRI). The BRI was initially designed to address China’s overcapacity and promote economic growth in both China and in countries along the “Belt” and “Road” through infrastructure investment and industrial capacity cooperation. It took into account China’s strategic transition in its opening-up policy and foreign policy to pay more attention to the neighboring countries in Southeast Asia and Central and West Asia when facing greater strategic pressure from the United States in East Asia and the Pacific region. More themes have been added to the initiative’s original framework since its inception in 2013, including the vision of the BRI as China’s major solution to improve international economic cooperation and practice to build a “community of shared future for mankind”, and the idea of the Green Silk Road and the Digital Silk Road. Chinese state-owned enterprises and policy and commercial banks have dominated investment and financing for BRI projects, which explains the root of the problems and risks facing the initiative, such as unsustainable debt, non-transparency, corruption and low economic efficiency. Measures taken by China to tackle these problems, for example, mitigating the debt distress and improving debt sustainability, are unlikely to make a big difference anytime soon due to the tenacity of China’s long-held state-driven investment model.

Against the backdrop of anti-globalization rhetoric, this paper summarizes our joint book entitled Going Beyond Aid (Lin and Wang, 2017a) and discusses the prospects for development finance in the broad context of Belt and Road Initiative (BRI). Based on the New Structural Economics (Lin, 2010; 2011), here we focus on China’s demonstrated comparative advantages in infrastructure, e.g. in hydropower and high-speed railways (HSR). In addition, long-term orientation (LTO) and patient capital are latent comparative advantages that many Asian economies possess, and are critical for the Belt and Road Initiative. Only if these comparative advantages are utilized can these economies cooperate to potentially achieve win-win.

Using a Global Trade Analysis Project (GTAP) model, and China as the base for analytical comparison, this paper shows that there are significant economic benefits to China and the participating countries along all six Belt and Road Initiative (BRI) economic corridors. However, to maximize these benefits, the social and environmental risks need to be well managed. The analysis shows a clear sequencing in terms of priority corridors. Two corridors have minimal investments and immediate returns, two corridors have significant investments with huge returns, and two corridors have high investments with lower returns. Overall, the paper demonstrates that to ensure the sustainability of any BRI corridor development, there is a need to consider its costs and benefits from the economic, social and environmental perspectives.

This article explores the possibilities of developing Oman’s tourism sector under China’s Belt and Road Initiative (BRI). Tourism is a cornerstone of Oman’s economy, with the government prioritizing substantial efforts toward its development to foster economic diversification. This paper examines the broader efforts of Oman to strengthen its relations with China, which will indirectly benefit the tourism industry. This article presents a comprehensive analysis of the historical exchanges and future cooperation between China and Oman under BRI, specifically focusing on developing infrastructure and technology in Oman to support the tourism sector. It has been argued that BRI has the potential to significantly contribute to the growth and development of Oman’s tourism sector through increased investment and cooperation with Chinese counterparts.

This paper highlights the opportunities as well as challenges posed for Bangladesh by the Belt and Road Initiative (BRI) of China. BRI is being considered as the most expensive project ever initiated connecting more than half of the world population from Asia, Europe and Africa. For writing this paper, the authors utilized published sources such as journal articles, newspaper articles and web-based information published from 2013 to 2024. The article proposes that although the involvement of Bangladesh in the BRI is not absolutely free of challenges, it can serve the ultimate national interest through greater connectivity with other countries, increased volume of trade and economic activities and socio-cultural exchange. Although, as the originator and major contributor of the BRI, China will be the principal benefiter, other partner countries can also attain considerable benefits out of this historical mega scheme through the application of appropriate vision and strategic implementation. This paper has highlighted those benefits/opportunities and challenges for Bangladesh that can be beneficial for upcoming research projects particularity aimed at development studies, political economy and international relations. On the other hand, based on the arguments made on this paper, policymakers and businessmen can formulate their best policies as well as trading strategies with mutual benefits for all the stakeholders involved.