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Positive Effects of Harmonizing of the Chinese Silk Road Initiative and the Eurasian Integration

Abstract

The article offers an analysis of geopolitical and geoeconomic transformations, caused by the process of conjugation of Chinese Silk Road Economic Belt (SREB) Initiative and the process of integration within the Eurasian Economic Union. When assessing the negation of non-preferential trade and economic agreement between the People's Republic of China and the EEU, the authors conclude that it will significantly strengthen the international subjectivity of the Eurasian Economic Union. At the same time success of the Eurasian regional integration project and its conjugation with SREB initiative to a great extent depends on whether the particular interests of the certain states will prevail in this case or their interests will be coordinated to the objectives of multilateral cooperation of the EEU countries. Such sensitive questions as customs regulation, protection of domestic market and producers, regulation of conditions of access for external players to the transport and energy markets of the EEU countries can be solved in the most effective way with appropriate consolidated approach of participants of the Eurasian integration. New opportunities, which are presented by conjugation of the SREB and the EEU, should be considered as a peculiar examination on efficiency and a political maturity for Post-Soviet elites. New modality of the Eurasian regionalism can become a practical result of conjugation of the SREB and the EEU. The accompanying process of development of the Greater Eurasia concept reflects objective dynamics of the strengthening economic interdependence, but at the same time promotes designing of the macroregion on the basis of the ideas and identities which harmonization will serve the interests of China, Russia, other countries of the EEU and wider range of the Eurasian actors.

Keywords:

Eurasian Economic Union; Silk Road Economic Belt; regionalism; Greater Eurasia; Russian-Chinese relations; non-preferential trade agreements; transport corridors.

 


Authors: Dmitry Efremenko. Olga Podberezkina. Viktoria Sharonova

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