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Does the All-China Federation of Industry and Commerce Align Private Firms with the Goals of the People's Republic of China's Belt and Road Initiative?

Does the All-China Federation of Industry and Commerce Align Private Firms with the Goals of the... This paper demonstrates that the largest business association of private firms in the People's Republic of China (PRC), the All-China Federation of Industry and Commerce (ACFIC), has induced its members to help achieve the goals of the PRC's extremely ambitious but risky Belt and Road Initiative (BRI) since its inauguration in 2013. Through its newspaper, the ACFIC has drawn the attention of its member firms to countries participating in the BRI, which has led to increased trade between provinces in the PRC and BRI-participating countries emphasized by the ACFIC's newspaper. The results show that the PRC's exports have been encouraged substantially more than its imports, which could be a cause for concern for the sustainability of the BRI. The results were obtained through various specially designed versions of the gravity model and have shown to be robust to the use of various methods for mitigating possible estimation biases. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Asian Development Review MIT Press

Does the All-China Federation of Industry and Commerce Align Private Firms with the Goals of the People's Republic of China's Belt and Road Initiative?

Nugent, Jeffrey B.; Lu, Jiaxuan
Asian Development Review , Volume 37 (2): 32 – Sep 1, 2020
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Publisher
MIT Press
Copyright
Copyright © MIT Press
ISSN
0116-1105
eISSN
1996-7241
DOI
10.1162/adev_a_00149
Publisher site
See Article on Publisher Site

Abstract

This paper demonstrates that the largest business association of private firms in the People's Republic of China (PRC), the All-China Federation of Industry and Commerce (ACFIC), has induced its members to help achieve the goals of the PRC's extremely ambitious but risky Belt and Road Initiative (BRI) since its inauguration in 2013. Through its newspaper, the ACFIC has drawn the attention of its member firms to countries participating in the BRI, which has led to increased trade between provinces in the PRC and BRI-participating countries emphasized by the ACFIC's newspaper. The results show that the PRC's exports have been encouraged substantially more than its imports, which could be a cause for concern for the sustainability of the BRI. The results were obtained through various specially designed versions of the gravity model and have shown to be robust to the use of various methods for mitigating possible estimation biases.

Journal

Asian Development Review – MIT Press

Published: Sep 1, 2020

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