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estudos internacionais • Belo Horizonte, ISSN 2317-773X, v. 12, n. 3, (dez. 2024), p. 30-50
The Belt and Road Initiative4 has been widely analyzed in academic
literature as an example of China’s power projection (Baik, 2019). This
initiative not only seeks to improve connectivity and trade between Asia,
Europe and Africa, but also strengthens China’s inuence in the Global
South (Gulseven, 2022). Through this initiative, China has been able to
consolidate strategic alliances and expand its economic and political in-
uence, promoting infrastructure projects that benet emerging econo-
mies and strengthen its position on the global stage (ECONOMY, 2018).
Moreover, the creation of institutions such as the New Development
Bank5 (NDB) and the Asian Infrastructure Investment Bank6 (AIIB)
has been central to China’s strategy to consolidate its leadership in the
BRICS+. These nancial institutions not only provide an alternati-
ve to traditional Western institutions such as the World Bank and the
International Monetary Fund7 (IMF), but also promote economic coo-
peration and sustainable development among BRICS+ members and
other countries in the Global South (Morton, 2016). The literature has
highlighted how these institutions have enabled the Asian country to po-
sition itself as an advocate of multilateralism and a promoter of a new,
more equitable world order.
However, not all is positive in the analysis of China’s leadership.
Many critics argue that China’s strategy represents a new form of eco-
nomic colonialism (Antiwi-Boateng, 2017). Through its investments and
infrastructure projects, China has been accused of creating economic and
political dependence in recipient countries, which has led to debates over
the true intentions of its leadership in the BRICS+. These critics point
out that, while China promotes greater representation of emerging eco-
nomies, its strategy may be more focused on expanding its own inuen-
ce and control at the expense of other countries’ sovereignty (Hurley;
Morris; Portelance, 2019).
This article is part of this academic discussion, providing a com-
prehensive analysis of China’s leadership in the BRICS+ and its impact on
the Global South. In order to address the objectives of this paper, a me-
thodology based on literature review and documentary analysis will be
employed. Primary and secondary sources will be examined, including
academic articles, reports from international institutions, ocial spee-
ches and case studies. The literature review will identify and synthesize
the main academic contributions on the topic, while the documentary
analysis will provide a broader historical and political context.
The methodological approach will focus on the identication
and analysis of patterns and trends in the participation of the People’s
Republic of China in the BRICS+, as well as on the assessment of its im-
pact on the Global South. Special attention will be paid to the projects
and strategies implemented by the Asian country in the framework of
the Belt and Road Initiative, as well as to the creation and functioning of
the aforementioned nancial institutions. The documentary analysis will
include the review of speeches and ocial statements by Chinese leaders
and other BRICS+ members, as well as reports by international organi-
zations and think tanks.
In order to provide a balanced and well-grounded view of the power
4. The Belt and Road Initiative (BRI),
also known as the New Silk Road, is an
ambitious infrastructure and develo-
pment project launched by China in
2013, aiming to revitalize the old trade
routes connecting Asia, Europe and
Africa. promoting regional integration
and globalization (GULUZIAN, 2017).
Although it presents great economic and
trade opportunities, it faces significant
challenges in terms of local sustainabi-
lity and structural barriers. In addition,
the initiative is a key strategic tool for
China, designed to increase its global
influence and promote a multipolar
world order (LEVERETT; BINGBING,
2017).
5. The New Development Bank (NDB)
is a financial institution created by the
BRICS countries to address the lack of
infrastructure financing and give deve-
loping countries a greater role in the
global financial system (LATINO, 2017).
Although it follows a similar model
to that of other development banks, it
seeks to differentiate itself through coo-
peration with other financial institutions
and a focus on sustainable financing.
Despite the challenges, the NDB has
the potential to become an important
tool to encourage investments in large
development projects and strengthen
economic and trade ties among member
countries (WANG, 2019).
6. The Asian Infrastructure Investment
Bank (AIIB) is a multilateral financial
institution created to address infras-
tructure needs in Asia and promote
sustainable economic development. Its
creation reflects both China’s frustration
with the existing international financial
architecture and its ambition to play a
more prominent role in global economic
governance (MORRIS, 2020). AIIB has
introduced innovations in its governance
structure and adopted practices from
existing development banks to ensure
its legitimacy. The international accep-
tance of the AIIB and its ability to form
cooperative partnerships underscore its
significant impact on geopolitics and
global governance (WILSON, 2019).
7. The International Monetary Fund was
established to encourage global mone-
tary cooperation and maintain foreign
exchange stability, aiming to support
international trade, high employment
rates, real income growth and the deve-
lopment of productive resources among
all its member countries. However its
credibility and effectiveness are at
stake due to its governance structure,
ideological bias and insufficient reform
efforts (TORRES, 2007).