The 17+1 Initiative is a special form of cooperation involving bilateral trade, investment, and cooperation in the financial and tourism sectors between China and each of the member countries of the initiative. The level of cooperation among member countries varies, but the group of V4 countries is particularly noteworthy because cooperation between them and China is much stronger than between the other 13 member countries. The V4 countries benefit greatly from this cooperation, and their relationship with China is accordingly shaped by the benefits they derive from this cooperation. The aim of the thesis is to show how the relationship between the V4 countries and China has changed depending on the benefits of this cooperation. In this way, the thesis contributes to the literature on certain types of cooperation, on the benefits derived from them, and on how relations between states change in light of these benefits. The master thesis has an empirical and a positivist orientation. The main research used in the master thesis are the statistical approach and the comparative analysis of a certain number of variables – increase in trade and exports (1), foreign direct investment (2), financial cooperation (3) and tourism (4). The results of the analysis show that depending on the level of benefits obtained, the relations between countries also change, according to the principle that more benefits lead to better relations.
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