Analysis of the contribution of the New Silk Roads in strengthening cooperation between China and the countries of the Northern Africa and Middle East region

Abstract

China's attempts to interact with the outside world and increase its presence on the international arena are exemplified by the new Silk Road Strategy. In the near future, China's execution of this policy may encounter hurdles. The greatest impediments for Chinese diplomacy are geopolitical conflicts, but internal instability in certain countries and the concern of becoming too reliant on China are also obstacles. The manner in which China handles these obstacles along the Silk Roads will inevitably impact the development of the New Silk Road. In order to prevent connectivity initiatives from devolving into geopolitical games, China asserts that it adheres to the principles of non-interference and win-win cooperation, and it pledges to provide more public goods through initiatives such as the Asian Infrastructure Investment Bank and the Silk Road Fund. In a multipolar world characterized by managed economic diplomacy and global economic governance, China has entered the process of regional and mega-regional economic integration through the Silk Roads and the Economic Belt in order to promote exports, international relations between the various countries along the route in the form of transmission channels, and to establish the principle of global economic cooperation. This article examines trade diplomacy between North African and Middle Eastern nations and analyzes how the New Silk Roads Initiative might transform trade diplomacy between these nations. For this goal, we compiled a sample of thirteen nations for the years 2007 through 2019. Using panel regression, we determined that the program had a significant influence on the trade diplomacy of nations in the North Africa and Middle East area.

Keywords: New Silk Roads, Economic Cooperation, Economic Diplomacy, Panel Regression, North Africa, Middle East

JEL Classification: F14

Paper type: Empirical research