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Conjugation of the Belt and Road Initiative and Eurasian Economic Union: Problems and Development Prospects

Author

Listed:
  • Elnur Mekhdiev

    (Center for Analysis, Risk Management and Internal Control in Digital Space, Financial University under the Government of the Russian Federation, Moscow 125993, Russia)

  • Irina Pashkovskaya

    (Euro-Atlantic Security Center, Moscow State Institute of International Relations (MGIMO), Moscow 119454, Russia)

  • Elena Takmakova

    (Department of Innovation and Applied Economics, Orel State University, Orel 302026, Russia)

  • Olga Smirnova

    (Department of Philosophy and Socio-Political Technologies, Gubkin Russian State University of Oil and Gas (National Research University), Moscow 119991, Russia)

  • Khadiya Sadykova

    (Department of Economics and Production Management, Tyumen Industrial University, Tyumen 625000, Russia)

  • Svetlana Poltorykhina

    (Department of Finance and Credit, Kazan Innovative University named after V.G.Timiryasov (IEML), Kazan 420111, Russia)

Abstract

The study addresses the problems arising in association with the conjugation of the Eurasian Economic Union (EAEU) and the Belt and Road initiative. The hypothesis is that the conjugation is economically effective, and this is proven by the statistical analysis of trade and investment dynamics and buttressed by empirical observations. Based on this, the recommendations for the EAEU are given. The paper dismantles the problems arising in the sphere of security and peacekeeping and proposes a number of steps for ensuring peace and stable development in the region, implementing the Shanghai Cooperation Organization (SCO) mechanism. The article highlights the main plans of the China–EAEU partnership and puts forward alternative cooperation strategies for the People’s Republic of China (PRC). The authors develop the most attractive plan for the EAEU and propose the best strategy for its implementation.

Suggested Citation

  • Elnur Mekhdiev & Irina Pashkovskaya & Elena Takmakova & Olga Smirnova & Khadiya Sadykova & Svetlana Poltorykhina, 2019. "Conjugation of the Belt and Road Initiative and Eurasian Economic Union: Problems and Development Prospects," Economies, MDPI, vol. 7(4), pages 1-15, December.
    • Handle: RePEc:gam:jecomi:v:7:y:2019:i:4:p:118-:d:294652
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    References listed on IDEAS

    as
    1. Mehmet Huseyin Bilgin & Hakan Danis & Ender Demir & Ugur Can (ed.), 2017. "Country Experiences in Economic Development, Management and Entrepreneurship," Eurasian Studies in Business and Economics, Springer, number 978-3-319-46319-3, December.
    2. Lauren A. Johnston, 2019. "The Belt and Road Initiative: What is in it for China?," Asia and the Pacific Policy Studies, Wiley Blackwell, vol. 6(1), pages 40-58, January.
    3. Lauren A. Johnston, 2019. "The Belt and Road Initiative: What is in it for China?," Asia and the Pacific Policy Studies 201903, Crawford School of Public Policy, The Australian National University.
    4. Atif Ansar & Bent Flyvbjerg & Alexander Budzier & Daniel Lunn, 2016. "Does infrastructure investment lead to economic growth or economic fragility? Evidence from China," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 32(3), pages 360-390.
    5. Katarzyna Czerewacz-Filipowicz, 2017. "Economic and Geoeconomic Effects of the Eurasian Economic Union: Trade Aspects," Eurasian Studies in Business and Economics, in: Mehmet Huseyin Bilgin & Hakan Danis & Ender Demir & Ugur Can (ed.), Country Experiences in Economic Development, Management and Entrepreneurship, pages 331-339, Springer.
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    Cited by:

    1. Chen, Q., 2020. "Chinese and Russian Transport Corridors and the Belt and Road Initiative: Prospects of Sino-Russian Cooperation," R-Economy, Ural Federal University, Graduate School of Economics and Management, vol. 6(2), pages 100-110.
    2. Alnoah Abdulsalam & Helian Xu & Waqar Ameer & AL-Barakani Abdo & Jiejin Xia, 2021. "Exploration of the Impact of China’s Outward Foreign Direct Investment (FDI) on Economic Growth in Asia and North Africa along the Belt and Road (B&R) Initiative," Sustainability, MDPI, vol. 13(4), pages 1-16, February.

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