The success of populist rhetoric in Europe is worrisome as it presents a threat to national and European institutions, the rule of law, and other fundamental free-market democratic institutions, such as freedom of the press and the independence of the judiciary system.

China's Belt and Road Initiative, announced in late 2013, includes the construction of land-based transport connections between Asia and Europe, the creation of an economic belt for Eurasian cooperation, and maritime routes between China and all continents with which it may trade. Within the...