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 (VNU Hanoi), Mr. Peter Grike, permanent representative of the Konrad Adenauer Foundation in Vietnam, and many famous scholars from Vietnam, Australia, the US, Japan, India and Singapore.

In his opening speech, Prof. Dr. Pham Quang Minh emphasized: This is not an easy topic to discuss, but the conference environment is always open for us to better understand the world context to make correct judgments, understand our partners better and contribute to promoting Vietnam's foreign policies.

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

Mr. Peter Girke - Chief Representative of the Konrad Adenauer Foundation in Vietnam said: "Within the framework of the conference, domestic and international scholars will discuss issues related to China's Belt and Road Initiative such as the profound implications behind this initiative, its scope, benefits as well as potential risks to regional security."

Analyzing the advantages and disadvantages of the Belt and Road Initiative proposed by China, Professor Carlyle Thayer (NUSW Canberra, Australia) said 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 likely to serve mainly China and its businesses and there is a possibility of a two-way trade imbalance between China and the countries participating in this initiative.

Concluding his speech with a focus on economic opportunities and strategic concerns, Professor Carlyle Thayer quoted Australian journalist Paul Kelly's observation that it was absurd to say that Australia could not 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 said that China's economic security is not the only factor leading to China's Belt and Road Initiative, but there are also other factors. This Chinese initiative still has goals that are consistent 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 in this initiative as well as their actions,” Professor Pham Quang Minh emphasized.

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

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