Since its launch in late 2013, the Belt and Road Initiative (BRI) has become a significant factor in shaping China's economic and diplomatic relations with the world. China's increasing clout presents opportunities as well as challenges, especially for the developing economies of the Association of Southeast Asian Nations (ASEAN) which constitute major sites for investment and trade alongside the BRI routes.This edited volume examines whether and to what extent China's economic ascendancy has impacted the proposed ASEAN Economic Community and the respective nations in the region. It deals with this question by grounding the analysis along three themes — institutions at a regional level, industry/sector, and particular ASEAN countries' economic relationship with China. Sixteen articles are presented to illuminate the state of affairs at the regional level and in specific ASEAN economies. They point to the importance of managing trade and investment flows stemming from China's increasingly sophisticated national firms. This in turn hinges on forging 'rules of the game' at both the multilateral and bilateral levels, which potentially leads to mutually beneficial industrialization and long-term wealth creation.The Political Economy of Regionalism, Trade, and Infrastructure will be of great interest to scholars of political economy and industrial policy in East Asia, as well as to scholars and policy professionals analyzing approaches to development strategy more broadly.

Table of Contents:
Introduction: Southeast Asia and the Belt and Road Initiative in a New Era: The Political Economy of Regionalism, Trade, and Infrastructure; Belt and Road Initiative: A Framework to Address Challenges and Unlock Potential for High-Quality and Inclusive Growth; The Decentralizing International Trade Architecture: Perspectives from and Role of Asia; Spatial Panel Analysis on ASEAN-China Trade Links; Why Participate in the 'One Belt and One Road' Initiative? An Income Convergence Approach; ASEAN Electricity Market Integration: How can Belt and Road Initiative Bring New Life to It?; China's Outbound Investment in ASEAN Economies in Three Periods: Changing Patterns and Trends; Evolution of China's Outward Foreign Direct Investment Regime: Implications for South-east Asia under the BRI; Does the Belt and Road Initiative Reshape China's Outward Foreign Direct Investment in ASEAN? Shifting Motives of State-Owned and Private-Owned Enterprises; /The Impact of the Belt and Road Initiative on Firms' Employment Structure and Wage — Evidence from China's Public Listed Firms Rooting in Nanyang: How Efficient are Chinese Manufacturing Firms in Malaysia? Singapore-China Economic Collaboration 2.0; Singapore Engages the Belt and Road Initiative: Perceptions, Policies, and Institutions; How Do Investors Respond to Territorial Disputes? Evidence from the South China Sea and Implications on Philippines Economic Strategy; The Flying Geese and China's BRI in Indonesia; China's Belt and Road Initiative: A View from a Mahathirist Imaginary;