Abstract

China initiated the "One Belt, One Road (OBOR)" initiative to connect Europe, Asia and Africa. Of course, the initiative itself does not include making a new rule to govern the trading order between Europe and Asia. However, considering that China is currently negotiating the Regional Comprehensive Economic Partnership (RCEP) agreement with the ASEAN and others, and it has already signed the FTA with Pakistan, the OBOR initiative may lead to a new regional agreement covering Asia and Europe, and perhaps make the largest regional trade agreement. The author is of the view that the ...