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World Economics and Politics No.3 2018 Authors Wu Zhicheng Professor of Zhou Enlai School of Government Nankai University Wu Yu Lecturer of School of Politics and Public Administration Southwest University of Political Science & Law. The Belt and Road Initiative Regionalism or Multilateralism Li Xiangyang 34 Abstract Much controversy arises over whether the Belt and Road Initiative has the attribute of regionalism or that of multilateralism in the academic world which not only determines the scope and governance of the Belt and Road but also determines its path choice. As a result it is of great theoretical and practical significance to understand and build the Belt and Road. In the economic sense as an international economic cooperation initiative put forward by a major power the initiative should take the service of multilateral trade and investment liberalization as its ultimate goal but it should be a regional cooperation mechanism in its initial stage. This is determined by China s internal and external environment of achieving peaceful development and participating in globalization and is also a prerequisite for implementing the view of righteousness and benefit. The recognition of the regional attributes of the Belt and Road Initiative does not negate its multilateral character in later stages. Compared with the current rules-based regional cooperation mechanism the Belt and Road Initiative presents development-oriented characteristics. Therefore as a new and development-oriented regional cooperation mechanism it can play its all-round opening functions and serve the goal of achieving a community of shared future for mankind. Key Words the Belt and Road Initiative the view of righteousness and benefit regionalism multilateralism a community of shared future for mankind. Author Li Xiangyang Professor and Director National Institute of International Strategy CASS. Dual Logic of the Adjustments of the Trump Administration s China Policy and Their Interactions Wang Hao 47 Abstract The author constructs a dual-logic analytic framework by introducing geopolitics and domestic politics to discuss the evolution of the U.S. China policy as well as 156