On 22 April 2021, our Chief Economist Hans Holzhacker gave a lecture on “China Going Global and Eurasia’s Changing Economic Landscape” at the University of Virginia (UVA) with a focus on the Belt and Road Initiative (BRI). He argued that BRI is firmly rooted in the development of the PRC’s economy and firms. In his view, trade on the Eurasian continent is strongly bipolar East-West (PRC and EU), although North-South direction also matters. Dr. Holzhacker reasoned that regions in between have to cope with the difficulties of overland transportation and work to become more than just transit routes. He stressed the need for more Chinese FDI which goes beyond energy and infrastructure sectors and focuses more on technology and skills transfer. He also recommended that both the PRC and recipient countries improve risk mitigation mechanisms.