China's Belt and Road Initiative: Opportunities and Challenges

Attending the seminar were Prof. Dr. Pham Quang Minh - Rector of the University of Social Sciences and Humanities (Vietnam National University, Hanoi), Mr. Peter Grike, Permanent Representative of the Konrad Adenauer Foundation in Vietnam, and many renowned scholars from Vietnam, Australia, the United States, Japan, India, and Singapore.

In his opening remarks, Professor Pham Quang Minh emphasized: "This is not an easy topic to discuss, but the conference environment is always open so that we can all better understand the global context to make accurate assessments, better understand our partners, and contribute to promoting Vietnam's foreign policies."

The seminar was divided into two sessions, focusing on discussing the context, basis, and approach to China's Belt and Road Initiative, as well as assessing the opportunities and challenges this initiative will bring.

Peter Girke, Head of the Konrad Adenauer Foundation's representative office in Vietnam, stated: "Within the framework of the conference, domestic and international scholars will discuss issues related to China's Belt and Road Initiative, such as the deeper implications behind this initiative, its scope, benefits, and potential risks to regional security."

Analyzing the advantages and disadvantages of China's Belt and Road Initiative, Professor Carlyle Thayer (NUSW Canberra, Australia) argues that this initiative will contribute to enhancing Australia's position and influence in the region, while creating many opportunities for businesses and workers.

However, it is highly likely to primarily serve China and its businesses, potentially leading to an imbalance in bilateral trade between China and the countries participating in this initiative.

Concluding his presentation with a central focus on analyzing economic opportunities and strategic concerns, Professor Carlyle Thayer quoted Australian journalist Paul Kelly as saying it would be absurd to say that Australia cannot be involved in China's Belt and Road Initiative, and equally absurd to say that we would blindly sign any memorandum of understanding.

Professor Pham Quang Minh, however, believes that China's economic security is not the only factor driving its Belt and Road Initiative; other factors also play a role. This initiative by China still has objectives that align with those pursued by ASEAN countries.

"China will continue to make progress in Southeast Asia, but Beijing's partners in the region will have a say in the progress and direction of some projects within this initiative, as well as their actions," Professor Pham Quang Minh emphasized.

Focusing on discussing China's Belt and Road Initiative from the perspective of current international affairs, scholars analyze the attitudes and reactions of various countries to this Chinese "initiative," and the legal challenges it faces.

Scholars generally agree that China's Belt and Road Initiative has created a dilemma for everyone.