Strategic Challenges and Risk Governance in the Globalization of the Belt and Road Initiative

Abstract

The Belt and Road Initiative (BRI), as China’s flagship international cooperation framework, aims to enhance regional connectivity and promote a new global economic order. However, escalating political risks among participating countries—especially terrorism, security instability, and institutional divergence—have significantly hindered its implementation. This paper adopts political risk as its analytical lens and employs a mixed-method approach, including index-based assessment, literature synthesis, and case comparisons, to identify key sources of uncertainty in the BRI process. It further examines root causes across economic, political, cultural, and technological dimensions. Based on the analysis, the study proposes a multi-level response strategy, including the construction of a community of shared responsibility, the development of risk early-warning systems, and the enhancement of institutional coordination. The findings aim to inform policy improvements and contribute to a more resilient and secure globalization process under the BRI framework.