The Belt and Road Initiative is Opening up New Horizons
semİh koray Prof. Dr. Department of Economics, Bilkent University
Semih Koray received his Ph.D. in Mathematics from Boğaziçi University in 1980. He has several articles published in journals such as Social Choice and Welfare, Review of Economic Design, Journal of Economic Theory, Econometrica and Semigroup Forum. Koray acted as the coordinating editor-in-chief and an associate editor of Review of Economic Design, as the President and Secretary General of the Association of Southern European Economic Theorists, as the Chair of the Turkish Mathematical Olympiad Committee, as a member of the International Mathematical Olympiad Advisory Board, and as the President of the Foundation for Economic Design. Koray’s research interests focus on economic and social design, game theory and social choice theory. Koray is currently the Deputy President of the Patriotic Party – Turkey in charge of the International Relations Bureau. He also has several articles on political and social issues published in the monthly periodicals Teori and Bilim ve Ütopya, along with writing in a weekly column on Eurasian Alternative in the daily newspaper Aydınlık.
The once “Oppressed Nations” are now in the process of constructing a developing alternative to the Atlantic System in all spheres of life. The economic struggle is led by the People’s Republic of China, while an armed struggle is continuing in West Asia with Syria, Turkey, Russia and Iran at the forefront, and all this is reflected politically in the increasing centrifugal forces against the Atlantic System in Europe as well.
THE NEOLIBERAL INTERNATIONAL ORDER able ground for achieving this aim. The success of
dictated to the world by the Atlantic System has this initiative in creating a new globe on which all
come to an end. The world is now in search of a new countries, which the belt embraces and the road
and more egalitarian international order based on connects, can interact in a cooperative and con-
mutual benefit and respect for national sovereign- structive manner will mark a historical turning
ty. The last three decades have not only witnessed point. In history, the 21st century might even be par-
a shift of the center of weight of production from titioned into “before the Belt-Road” and “after the
the West to the East, but also the rise of a Develop- Belt-Road”. The very design and implementation of
ing World in Eurasia accompanied by struggles in such a historical project itself doubtlessly requires
the economic as well as political and armed spheres. an intense interaction and cooperation between the
The once “Oppressed Nations” are now in the pro- countries involved, perhaps even more intense than
cess of constructing a developing alternative to the the interaction and cooperation it aims to create.
Atlantic System in all spheres of life. The econom- The ancient continental as well as maritime Silk
ic struggle is led by the People’s Republic of China, Road linking the East with the West was mainly an
while an armed struggle is continuing in West Asia Asian project, as also is the modern Belt and Road
with Syria, Turkey, Russia and Iran at the forefront, Initiative. The centralized and long-lasting feudal
and all this is reflected politically in the increasing empires of the East furnished the then existing
centrifugal forces against the Atlantic System in Eu- culture with elements reflecting a public and shar-
rope as well. ing spirit within their own historical context. They
brought about a dignified stance among the people
The Nation-States are the in the territories they reigned. The silk routes en-
Main Building Blocks of hanced both economic and cultural welfare through
the Developing World the interaction and cooperation they induced. All
The construction of an alternative system repre- this doubtlessly belongs to the common legacy of
senting the common future of humanity requires human civilization today. Turning this valuable leg-
a thoughtful design of international relations, acy into a current social and economic power, which
through which each country can efficiently benefit opens up the way to the construction of a common
from international cooperation. The Belt and Road future of humanity, can only be achieved through
Initiative first put forth by China in 2013 and now the “nation-states”, which form the main building
underway with its implementation provides a suit- blocks of the Developing World in our era.
S em ih Kor a y, T he B elt a nd R o a d Initia tiv e is O pening up N ew Ho r i zo n s
impose upon the strategic goals. In the last analysis,
"The new kind of globalization aims however, it is the market forces that are to be made
at globalizing cooperation, and not subject to the strategic development goals rather to create a single global market in the than leaving the formation of a development strateabsence of national borders." gy to the spontaneity of the market forces.
The Developed World of the Atlantic System Economic growth is just one quantitative as-
is much more monolithic than is the Developing pect of economic development. Two countries
World of Eurasia. The Eurasian countries span over may have similar growth rates with quite different
a very broad spectrum concerning both the levels impacts upon their productive powers. It is the
and contents of their nation-building as well as eco- qualitative content of growth reflected in produc-
nomic development processes. Thus, the priorities tive power, which matters in the medium and long
these countries are faced with are strongly diversi- run. A sustainable economic development involves
fied. In fact, this is the main reason of the lack of a continual adjustment and readjustment process
a ready-made, one-size-fits-all recipe for economic between the production forces and the relations of
production. Thus, an optimal route of development development and social progress in these countries. has to be designed, planned and endowed with suit- That is precisely why each country is to find “its able economic means of implementation. This aim own way” fitting its “own characteristics” for develcannot be achieved on an economic stage, which is opment and progress strategies. The key to the sucturned into a playground of market forces. cess of the Belt and Road Initiative is the ability to Optimal routes of development of different
harmonize the priorities and strategies of different countries are to be diversified. For example, the
countries, thereby rendering the economic and so- adoption of an advanced technology in some in-
cial consequences of the Initiative widely acceptable dustry requires having reached a threshold level in
to the societies in those countries. manufacturing in that area. Full openness to mar-
ket forces is destined to keep a country in a passive
“Inclusiveness” Requires a New recipient’s position in sectors below that threshold
Kind of “Openness” level. Interaction, no matter how strong, cannot au-
Markets are myopic in the sense that they can only tomatically lead to the internalization of advanced
technologies in such sectors. In industries and aginternalize short-term interests of the parties inricultural sectors that are regarded to possess a volved. Development strategies, however, are to strategic importance for either national security or be farsighted. Thus, their implementation cannot economic and social development, the formation be left entirely to the workings of the market. On of special protection, incentive design and support the other hand, the current level of the production policies will be needed.
forces renders the usage of markets indispensable. Under the “globalization” model dictated to
Hence, the gist of economic development lies in the world by the Atlantic System, “openness” was
aligning the workings of the markets with strategic to be provided to the flow of capital and goods un-
targets. The need to ensure the sustainability of de- der the sheer domination of market forces. As the
velopment, nevertheless, makes it necessary to also nation-states of the Developing World were consid-
take into account the limitations the market forces ered to be the main obstacles to such a “free flow”,
the whole effort was focused on the liquidation of tion. Thus, the way it circulates should accord with
the nation-states in order to open up the way to a smooth and qualitatively well-balanced growth in
“free circulation” of capital and goods. production. In case finance starts to dominate and
“Openness” is one of the most crucial notions shape production, however, it becomes a parasitic
that has to be “redefined” for the success of the Belt activity not promoting production, but forming an
and Road Initiative. To strengthen interaction and obstacle to improving production.
cooperation, countries should, of course, be “open” One of the major reasons why the center of
to cooperation. Under the Belt and Road Initiative, production shifted from the West to the East within
to the contrary of the Atlantic approach, “openness” the last three decades was, in fact, that the domina-
is to be brought about by “voluntary participation” tion of finance capital - as the main source of prof-
based on “mutual gain”. Being “openminded” rather its under the capitalist system - over production of
than promoting “openness” will naturally help “open goods and services became stronger than ever in the
up” the way to more interaction and cooperation. West, while finance was treated just as the lifeblood
However, it is not just the wishes, but the means that of production in the East. In the West, the shaping
bring about the consequences. Thus, the success of of the relationship between finance and production
the Belt and Road Initiative strongly depends upon was entirely left to market forces, while in the East
the introduction of effective means to align open- the state authority entered the scene as a strategic
ness with the development strategies of the coun- planner along with designing the means needed to
tries involved, thereby increasing their willingness implement the plans. While in the West the state
to interact. The new kind of globalization aims at had been turned into an apparatus serving the inter-
globalizing cooperation, and not to create a single ests of finance capital, the broader national interests
global market in the absence of national borders. played a relatively more weighted role in the East.
Finance is the lifeblood of production. In other For the Belt and Road Initiative to “include” all
words, finance is there to serve the needs of produc- the countries along the Belt and the Road in an ef-
S em ih Kor a y, T he B elt a nd R o a d Initia tiv e is O pening up N ew Ho r i zo n s
fective and voluntary manner, “openness” to “mar- with Russia and Iran regarding the Syrian Issue,
ket forces” should be harnessed. As such, market which has generated successful outcomes in Tur-
forces will be recalibrated to boost economic devel- key’s struggle against terrorism.
opment. However, the strategic goals will inevitably The reestablishment of peace and stability in
go unnoticed under any interaction between private West Asia will greatly facilitate the success of the
enterprises oriented by “profit maximization” only. Belt and Road Initiative. This part of Asia played a
It is only through interaction between states and major role of the Ancient Silkroad. Its absence to-
state interference by participation, orientation and day will render the Modern Silkroad one-legged.
regulation that the workings of the market can be The construction of peace and stability in Eurasia is
aligned with the countries’ strategic goals. at least as important as constructing the infrastruc-
It is also true that the optimal level of open- ture of the Initiative. They complement each other
ness of an economy in harmony with its strategic in that one provides safety and the other prosperity
objectives will rise as the economy develops further to the ground on which the Eurasian economy as a
in a healthy way. As the gap between the develop- whole can flourish further.
ment levels of different countries narrows down, The 21st century terrorism is not an individu-
the formula will become more and more that “the alistic phenomenon any more, as it was in the 19th
more open an economy becomes, the more will it century. Terrorism now is rather a global and “in-
gain from international interaction and coopera- dustrialized” activity, whose different branches have
tion”. The new kind of globalization that the Belt and a common international source. Thus, terrorism
Road Initiative promises to humanity is something against Turkey is terrorism against China, and ter-
that has to be constructed step by step and cannot rorism against China is terrorism against Turkey.
be reached immediately in one shot. But today under the Belt and Road Initiative, it has
become even more so. Defeating terrorism requires
The Creation of and the also a close international and multi-tier coopera-
Need for Peace and Stability tion, ranging from diplomatic, political, ideological
to armed forms of struggle. It is not only that the Belt and Road Initiative will contribute to peace and stability, but the very con-
struction of the Initiative itself also requires a peace- A Vision to Construct the Common
ful and stable environment. It is not accidental that Future of Humanity All Together
the map of terror, disturbance and conflict manip- The coexistence of different cultures is widely re-
ulation in Eurasia governed by forces from outside garded as a source of richness – a vision that can
mostly parallels the routes of the Initiative. One of hardly be denied. In case these cultures continue
the regions where terrorism is mostly condensed living side by side without any interaction, how-
is West Asia, particularly the region around Syria. ever, the kind of richness they reflect would not go
Turkey has been leading an armed struggle simul- beyond the richness of an exhibition in a museum.
taneously against several terrorist organizations as The yardstick of social richness in history of civili-
PKK-PYD, ISIS and the Fethullah Gulen Organiza- zations is the ability to produce something new out
tion, the common source of all of them being the of what exists. Thus, the genuine richness of differ-
Atlantic System. It is engaged in close cooperation ent cultures lies in the potential to create a socially
more advanced common culture by interaction. It be constructed. As the level of development of the
is “peace of mind” under which such an interaction productive forces seems to become increasingly in-
will induce the richest flow of ideas and values. The compatible with the capitalist system, history seems
Belt and Road Initiative will not only contribute to to get closer and closer to a turning point as well.
peace and stability in general, but it will also pave a Capitalist relations of production had been
social ground on which peace of mind prevails. born under the feudal system by themselves. They
were not designed by anyone. It was the widening of production of goods, which triggered the change in "Although the Belt and Road Initiative the production relations. Thus, everything that has is mainly a project on the economic been written about capitalism, be it by classical or plane, it will undoubtedly be helpful in
paving a ground, on which a Eurasian neoclassical economists or by Marxists, was written
Alternative to the Atlantic System can by observing an already existing system that had
be constructed." reached a certain maturity level. The findings about
capitalism were discoveries, rather than inventions.
The digitalization of technologies along with Socialism, on the other hand, was put forth by Marx
scientific and technological progress towards arti- and Engels as a historical foresight in the 19th cen-
ficial intelligence opens up new horizons for eco- tury, before it became a reality anywhere on earth.
nomic and social improvement. The arising ques- Socialist relations of production do not get born by
tion now is whether the benefits and gains accruing themselves under the capitalist system. They have
from this progress will be shared collectively or lead to be designed, and the economic and social means
to concentrating power further in the hands of the to implement and further develop them have to be
largest monopolies history has ever witnessed. At created. On the economic plane, this amounts to
this turning point of history, the Belt and Road Ini- a continual adjustment and readjustment process
tiative will help solving this problem in favor of the between the productive forces and the relations of
international collective to the extent it succeeds to production in each country.
increase the number of countries endowed with the This means that any attempt to go beyond the
ability to employ and develop these advanced tech- capitalist system concerning economic and so-
nologies. cial progress requires the guidance of science and
The technological advances our world has philosophy to be successful. The implementation
been going through recently have the potential of of the Belt and Road Initiative is based on form-
both serving to the economic and social progress ing a network between states, between economic
in an unprecedented way and being turned into an and financial institutions and agents, between na-
unprecedented destructive power. It all depends tions themselves and their various organizations.
upon the social system under which they will be This historical attempt will stay incomplete in the
employed. Although the Belt and Road Initiative is absence of a close and permanent international
mainly a project on the economic plane, it will un- cooperation on the side of science with a focus on
doubtedly be helpful in paving a ground, on which drawing continual lessons from this huge social and
a Eurasian Alternative to the Atlantic System can economic experiment to shed light on its roadmap.