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Abstract


The Economic Capacity of One Belt One Road Project and The Implementation of Dept Diplomacy by China
With the One Belt One Road (OBOR) project, the most expensive project in the world planned to be completed in 2049 and is expected to spend 100 trillion dollars in total, China would like to connect Asia, Europe and Africa continents by sea and land. Thus, China provides large amounts of grants and loans using many national and international institutions such as the Asian Infrastructure and Investment Bank, the Silk Road Fund, the China Development Bank and the New Development Bank. Debt diplomacy starts at this point. The lack of rigorous intervention by the Chinese government on how to spend high amounts of loans pushes the borrowing states to borrow more from China who earns a political intervention over debtor countries. In other words, bilateral relations, which started with economic motives, turn into political pressure through debt diplomacy. With this strategy, the Chinese state consolidates her global domination by increasing the number of dependent states to China. This study makes an important claim. OBOR project will both provide opportunities and advantages for the countries involved in the project and it will create an opportunity for political intervention for China.

Keywords
One Belt One Road project, economic capacity, China, global domination, debt diplomacy.


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