This paper analyzes the impact of the Belt and Road Initiative on Europe with a specificfocus on ltaly. We concentrate on the impact of new railways and port infrastructures onbilateral trade. Our analysis suggests th...This paper analyzes the impact of the Belt and Road Initiative on Europe with a specificfocus on ltaly. We concentrate on the impact of new railways and port infrastructures onbilateral trade. Our analysis suggests that the development of new railway connectionswill benefit most of the Northern and Central European countries. Some industries likeautomotive and electronics that have a higher value to weight ratio will benefit morethan others. However, due to higher costs, railway services will never reach a highpercentage of total import^export flows. Investment in new port facilities, although less＂new＂ compared with railways, may be a bigger game changer. The development ofthe Port of Piraeus has already increased the importance of the Mediterranean Sea asan import^export hub for China. If the other planned investments in Egypt and Algeriaare completed, this phenomenon will be magnified. This presents a huge challenge forItaly. The ltalian port in the high Adriatic Sea could be displaced by Piraeus capacity,especially if this port linked through railways with the center of Europe. Italy needsto coordinate its ports together with its railway network to take advantage of Belt andRoad Initiative opportunities.展开更多
文摘This paper analyzes the impact of the Belt and Road Initiative on Europe with a specificfocus on ltaly. We concentrate on the impact of new railways and port infrastructures onbilateral trade. Our analysis suggests that the development of new railway connectionswill benefit most of the Northern and Central European countries. Some industries likeautomotive and electronics that have a higher value to weight ratio will benefit morethan others. However, due to higher costs, railway services will never reach a highpercentage of total import^export flows. Investment in new port facilities, although less＂new＂ compared with railways, may be a bigger game changer. The development ofthe Port of Piraeus has already increased the importance of the Mediterranean Sea asan import^export hub for China. If the other planned investments in Egypt and Algeriaare completed, this phenomenon will be magnified. This presents a huge challenge forItaly. The ltalian port in the high Adriatic Sea could be displaced by Piraeus capacity,especially if this port linked through railways with the center of Europe. Italy needsto coordinate its ports together with its railway network to take advantage of Belt andRoad Initiative opportunities.
