MULTYPOLARITY AND DEGLOBALISATION: ECONOMIC PARTNERSHIP OF THE WESTERN BALKANS AND CHINA

Faculty of Business Economics Bijeljina, University of East Sarajevo, Republic of Srpska, BiH
Bosnia and Herzegovina

http://orcid.org/0000-0002-7925-0103
Shanghai Polytechnic University, Shanghai, China
China


Abstract

This paper investigates the evolving economic partnership between the Western Balkans and China in the context of two defining global trends: multipolarity and deglobalisation. In an increasingly multipolar global order, the economic relationship between China and the Western Balkans is focused on trade, investment, infrastructure development, and strategic cooperation under initiatives - the Belt and Road Initiative (BRI) and the 17+1 cooperation framework. As global power distribution becomes more fragmented and diverse, smaller and transitional economies are increasingly engaging with non-traditional partners to diversify their economic ties and enhance development prospects. China’s growing presence in the Western Balkans—manifested through trade, investment, and infrastructure projects—raises important questions about regional issues, dependency, and strategic alignment. The analysis situates this partnership within theoretical frameworks of multipolarity and deglobalisation, drawing on academic literature, empirical data, and policy documents. While China's engagement offers potential economic benefits for the region, including diversification of partnerships and infrastructure modernization, it also presents challenges related to governance, transparency, and geopolitical balance. This paper argues that the Western Balkans' relationship with China reflects both opportunities and challenges inherent in a multipolar world and emphasizes the need for a more coordinated and strategic regional approach in navigating complex global dynamics. The findings contribute to a deeper understanding of how smaller regions engage with rising powers and how economic diplomacy shapes the contours of contemporary deglobalisation.

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