Leiden University Student Repository

Brink, Floor van den (2025)

Economic Statecraft and Debt Sustainability in the BRI: A Comparative Analysis of Sri Lanka and Kazakhstan’s Strategies

Master thesis | Asian Studies (60 EC) (MA)

This thesis examines how Sri Lanka and Kazakhstan employ economic statecraft strategies to influence debt sustainability outcomes in their engagements with China's Belt and Road Initiative (BRI). Adopting a comparative political economy approach, the study challenges the debt-trap diplomacy narrative by emphasizing recipient countries' agency. Through thematic analysis across four dimensions—strategic project selection and negotiation, diversification of funding sources, leveraging BRI for economic integration, and capacity building—the research highlights the contrasting strategies of Sri Lanka and Kazakhstan. Sri Lanka's reactive approach differs from Kazakhstan's proactive strategy, illustrating diverse ways countries exercise agency within the BRI framework. The study reveals how these economic statecraft tools serve broader strategic goals: for Kazakhstan, establishing itself as an independent regional power and Eurasian transit hub; for Sri Lanka, becoming a key Indian Ocean...Show moreThis thesis examines how Sri Lanka and Kazakhstan employ economic statecraft strategies to influence debt sustainability outcomes in their engagements with China's Belt and Road Initiative (BRI). Adopting a comparative political economy approach, the study challenges the debt-trap diplomacy narrative by emphasizing recipient countries' agency. Through thematic analysis across four dimensions—strategic project selection and negotiation, diversification of funding sources, leveraging BRI for economic integration, and capacity building—the research highlights the contrasting strategies of Sri Lanka and Kazakhstan. Sri Lanka's reactive approach differs from Kazakhstan's proactive strategy, illustrating diverse ways countries exercise agency within the BRI framework. The study reveals how these economic statecraft tools serve broader strategic goals: for Kazakhstan, establishing itself as an independent regional power and Eurasian transit hub; for Sri Lanka, becoming a key Indian Ocean trade hub and achieving greater economic resilience. This research expands the application of economic statecraft theory to recipient countries, providing insights into how nations actively shape their engagement with large-scale economic initiatives while managing debt sustainability concerns.Show less

Belt and Road Initiative, Economic Statecraft, Debt Sustainability, Recipient Agency, Comparative Political Economy

Author

Brink, Floor van den

Faculty

Faculty of Humanities

Specialisation

Politics, Society and Economy of Asia

Supervisors

Wang, J.
Kanungo, P.

ECTS Credits

15

Language

en