Features of Geo-Economic Network between China and Countries along the 21st Century Maritime Silk Road

Abstract

The countries along the 21st-Century Maritime Silk Road (MSRCs) are important geo-economic spaces for China. The implementation of the Belt and Road initiative is drawing a new geo-economic network of the Maritime Silk Road. Based on trade and investment flows, this study uses social network analysis to examine the characteristics and structure of trade and investment networks between China and the MSRCs. The results show that the MSRCs’ trade network is approximately an irregular quadrilateral, the node weighted degree distribution follows the law of long-tail distribution, and the trade network has shifted from the tripartite confrontation of China, Japan, and South Korea to China’s single-core dominance. The MSRCs’ trade group has changed greatly, and the trade cohesion of China, Japan, and South Korea is strong. The MSRCs’ investment network is not fully developed and the network connections are sparse. China, Japan, and Singapore are its core nodes. The weight degree of the MSRCs’ investment inflow network first increased and then decreased, and the weight degree of the MSRCs’ investment outflow network increased. The MSRCs’ investment network followed the “core-peripheral” structure. The cohesive subgroup of the investment inflow network did not have significant regional characteristics, and the cohesion of the core subgroups in the MSRCs’ investment outflow network was strong. To promote the development of geo-economic relations between China and the MSRCs, China should focus on regional powers, upgrade the investment network of MSRCs, and implement differentiated geo-economic cooperation strategies.