Russia's Vision of the Belt and Road Initiative: From the Rivalry of the Great Powers to Forging a New Cooperation Model in Eurasia

Abstract

The article aims to highlight Russian approaches to Chinese One Belt-One Road initiative. It examines possible opportunities and challenges for co-development of the Eurasian Economic Union and the Belt project. Both projects and their co-development may reduce the uncertainty in Eurasia, caused by significant structural changes in international relations and the world economy, the emergence of new trade regimes and the erosion of leadership in international affairs. Russian interests in this regard are determined by the need for modernization and long-term development, which could also help to address acute security issues. These particular factors encouraged Russia to come up with an ambitious plan of the Extensive Eurasian Partnership, although the prospects of its implementation currently are uncertain. The present article argues that the success of Russia-China collaboration in Eurasia will depend crucially on the future dynamics of the Eurasian integration, as well as on the agreement to co-develop the Eurasian Economic Union and the Belt Initiative with concrete and mutually beneficial projects.

Belt and road initiative and Chinese firms' outward foreign direct investment

“…Kong (2017) points out that Malaysia needs China's industry overcapacity to develop its infrastructure, and Sino-Malaysia relations will be strengthened through the BRI. Spruds (2107) and Timofeev et al (2017) examine the possible opportunities and challenges associated with China's BRI in Latvia and Russia, respectively. Timofeev et al (2017) conclude that a successful Sino-Russia economic collaboration under the BRI depends crucially on the future dynamics of the Eurasian integration and an agreement to co-develop the Eurasian Economic Union.…”

Does the Belt and Road Initiative Promote Sustainable Development? Evidence from Countries along the Belt and Road

“…The current discussions are mainly based on two aspects: First, an analysis of the combined effects on the countries involved [5,6]. Some scholars deem that the "B&R Initiative" is conducive to promoting the improvement and long-term growth of China's economic structure, reducing the uncertainty of regional economic development and international relations, and thus its advantages outweigh its disadvantages [7][8][9]; however, some scholars believe that the Initiative threatens the international influence and practical interests of China in the region and therefore does more harm than good [10]. Second, an analysis of the impact on socio-economic and other professional fields.…”

China’s Belt and Road Initiative in South Asia and beyond: Apprehensions, Risks and Opportunities

“…The initiative "provides support for the development of regional infrastructure, most notably in the transportation segment." 72 Besides economic potential, "Russian interests in this regard are determined by the need to obtain reliable international partners for modernization and long-term development, which could also help to address acute security issues." 73 Although, Central Asia has predominantly remained under the geopolitical influence of Russia, both Beijing and Moscow have shared regional interests pertaining to "ensuring security, stability and order as a key priority."…”