Sri Lanka Hedging Strategy Study

This paper proposes a question: why Sri Lanka is able to grab economic development chances successfully on the China and India regional competition background? This paper holds that Sri Lanka can expand its geopolitical advantages and obtain political and economic resources conducive to its economic development through successful implementation of hedging strategy.This paper takes the hedging strategy as the theoretical research method,covers the means,objectives,characteristics and motivations of Sri Lanka's hedging strategy,and evaluates the effect of Sri Lanka's hedging strategy.Sri Lanka has successfully avoided the uncertain risks brought by great power competition by expanding its strategic autonomy through economic following,soft balancing,and actively engagement hedging means.This paper combines case analysis and comparative analysis on the base of hedging strategy practices of Sri Lanka.In the economic field,Sri Lanka bandwagons China and India in order to accelerate the implementation of national strategic planning projects and to enhance regional competitiveness.Maintain strategic balance between China and India through soft balancing in order to obtain policy freedom,and to ease the pressure of domestic politics competition.Through actively engage into regional and international cooperation mechanisms,Sri Lanka weakens traditional and non-traditional security threats successfully with India and China.At the same time,this paper also proposes that Sri Lanka's hedging strategy is a positive strategic practice based on a clear evaluation of the national development plan and strategic advantage,and its hedging strategy is not only affected by the competition pattern of major powers at the regional level,but also affected by the political parties competition in domestic level.Sri Lanka obtains economic,political and security benefits through hedging strategy,which is one of the representatives of hedging strategy practices.