China’s Economic Diplomacy: Concept,Organization, ImplementationMechanisms and the BRI

摘要

Based on the existing research regarding China’s economic diplomacy, thisstudy creates a theoretical structure for economic diplomacy with Chinese characteristicsthat encompasses soft power, the two competitive concepts of justified ought and selfinterests, and the Belt and Road Initiative (BRI). By introducing soft power, this paperargues that the goal of economic diplomacy with Chinese characteristics for the new erais to achieve the conversion of hard power to soft power. Unlike the “carrot and stick”principle often followed by Western powers in their economic diplomacy with politicalstrings attached, the conversion between hard power and soft power in China’s economicdiplomacy hinges upon the two competitive concepts of justified ought and self interests,which is the basic principle that guides China’s economic diplomacy overall. We argue thatin creating an implementation mechanism for China’s economic diplomacy, policymakersmust consider China’s unique national condition as a large economy not yet rich in percapita terms, while drawing upon the experiences of other major nations.