Assessing the Belt and Road Initiative as a narrative: Implications for institutional change and international firm strategy

Abstract This article explores the role of narratives as drivers that guide institutional change associated with globalization and deglobalization. For China’s Belt Road Initiative (BRI) to succeed a driver in favor globalization, it must pass narrative “virality” test successfully contend competing narratives. Rival will be launched by firms organizations worldwide expect win or lose from deglobalization new forms globalization. study develops useful framework for establishing extent which BRI is genuine just story. In this regard, four testable propositions are put forth ascertain whether values-based, extends an invitation participate, open-ended, economic performance both Chinese non-Chinese participants. The analysis BRI-related leads applies theoretical lens centered on economics perspective institution-based view political economy perspective. Implications stakeholders, international business practitioners, scholarship outlined.