HOW MANY PLUS ONE AND FOR HOW LONG? A BRIEF CRITICAL ASSESSMENT OF CHINA-CEE COOPERATION

This paper looks at the meteoric rise and downfall of the 16+1 platform, created by China in 2012 for its "win-win" cooperation with sixteen Central and Eastern European (CEE) countries. The format has never managed to become as globally well known as China's Belt and Road Initiative...

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Bibliographic Details
Published in:Global economic observer 2024-01, Vol.12 (1), p.75-86
Main Author: Pencea, Sarmiza
Format: Article
Language:English
Subjects:
Free trade
International trade
Investments
Online Access:Get full text
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Summary:This paper looks at the meteoric rise and downfall of the 16+1 platform, created by China in 2012 for its "win-win" cooperation with sixteen Central and Eastern European (CEE) countries. The format has never managed to become as globally well known as China's Belt and Road Initiative (BRI), which it was meant to serve as an implementation tool in Europe from 2013 on. The 16+1 platform's decade-long under-performance in terms of investments and trade has created deep disappointment among its European participants, leading to their growing criticism and disengagement. The paper analyzes these developments, the modest accomplishments of the format as perceived from the CEE standpoint, exemplified with relevant case studies of some of its most notorious projects, trying to discern winners from losers and spot the potentially hidden interests that China might actually have had when initiating the platform.
ISSN:2343-9742
2343-9750