Russian-Chinese cooperation in Central Asia in the context of ‘Belt and Road Initiative:’ Historical retrospective and economic prospects

Abstract

This article examines Russo-Chinese investment cooperation in China’s Belt and Road Initiative (originally the Silk Road Economic Belt). At the same time, it also studies bilateral agreements, as well as investment and mechanisms. Another focus is the impact of the BRI in Central Asian countries on Russian interests in the region. Research is based on an analysis of the history of joint Russian and Chinese initiatives for economic development to determine the feasibility of cooperation in the BRI. Meanwhile, the authors discuss the BRI’s impact on the economic and foreign policy of the two partners, as well as the risks and opportunities for Russia. The article is based on content and statistical analysis combined with a historical approach. It concludes that Russia and China are actively developing investment cooperation in the framework of the BRI, including the Silk Road Fund. The principal elements of the partnership involve the economy and processing and transporting energy resources. Its objective is to attain both regional economic stability as well as maximizing economic and political independence.