Analysis of the Adaptation of the Belt and Road Initiative in the European Union: A Perspective Based on Multilateral Cooperation, Sociocultural and Sustainable Development

Abstract

As the center of gravity of the global economy gradually shifts to Asia, China has strengthened its influence in the international economic system through the Belt and Road Initiative. As an important pole of the global economy, how to maintain the competitiveness of the EU in the new situation has become an important issue. There are significant differences between EU member states in terms of their level of economic development, foreign policies and attitudes towards China. This diversity makes it more difficult for the EU to coordinate its reaction to the Belt and Road Initiative. This complicates the EU's efforts to coordinate its reaction to the Initiative. As a result, this study investigates multilateral cooperation, socio-cultural, and sustainable development viewpoints, concluding that the EU must improve collaboration, maximize internal coordination, and adhere to the goal of sustainable development. The paper also discusses the major economic issues arising from the policy coordination of EU member states to adapt to the Belt and Road Initiative and the solutions required for these challenges.