Europe and Central Asia in China’s Belt and Road’ Initiative: A Multidimensional Analysis of Trade Intensiveness

Abstract

From the middle of 90’s, the bilateral trade between China and Europe and Central Asia (EU-CA) has become more important in the world trade. In 2013, the Chinese government introduced its new economic policy, the Belt and Road Initiative (BRI), which opened a new are of the world trade’s history. This paper is attempt to measure strength and nature of bilateral trading relationship between China and EU-CA. Furthermore, we are looking for the answer how the BRI is affecting on the studied countries’ economies. Many statistical indices can be used to measure international trade relations. This paper has used one such index such as trade intensity. Trade intensity indices have been calculated for the period from 1997 to 2017. Described intensity indices of bilateral trade relations, both countries will help determine how intensively countries that trade with each other. Thus, this study found that intensity between two countries is high and the BRI did not increase the trade intensiveness between China and EU-CA as we were expecting.