Transforming Eurasia: Expectations and Prospects of China’s New Silk Road
© Sputnik/ Vitaliy Ankov
Business
14:39 15.06.2016(updated 16:59 15.06.2016) Get short URL
11200212
The Silk Road Economic Belt is one of the most ambitious infrastructure projects in Eurasia. The initiative is one of the top priorities for the Chinese government.
On June 17, Chinese President Xi Jinping will start a five-day trip across Eastern and Central Europe as well as Central Asia in a bid to promote the project.
The New Silk Road is expected to establish a common economic space across the entire continent. However, the project has also faced criticism.
Opponents say that such an ambitious plan is nearly impossible to implement, taking into account the political and economic differences between the countries involved.
In an interview with Lenta.ru, experts of the Valdai International Discussion Forum shared their thoughts on the significance and prospects of the ambitious project.
"The New Silk Road is a large-scale political and economic initiative with great potential. But so far the project lacks practical and conceptual substance. It needs a plan of practical steps," analyst Timofei Bordachev said.
The official goal of the New Silk Road is to create jointly with Russia and all Eurasian nations a common area of development and prosperity. However, each participant also has its own interests.
For instance, China wants to expand the activity of its logistic and construction companies beyond its borders. At the same time, other companies do not want China to bring its companies and workers there. They want China to create regional jobs, helping to boost their economies.
In turn, Russia’s goal is to combine Chinese supply and domestic demand, Bordachev said. Russia should use China’s potential to develop Central Asian economies in a bid to stabilize the region.
Currently, the Eurasian Economic Commission is working on a draft cooperation agreement between the Eurasian Economic Union and China.
"In a long-term perspective, the initiative is likely to be implemented. But all participants should cooperate and take into account the interests of the entire region," he concluded.
Alexei Bezborodov, head of Infranews agency specializing in transportation and logistics, noted that currently there are two actual transportation routes within the Silk Road initiative. The first goes via Russia’s Far East, along the Trans-Siberian Railway, to Moscow and then to Europe. The second one goes from western China via Kazakhstan then to Russia and Europe.
Other alternatives, including via the Caspian Sea to Turkey and Georgia, and across Turkmenistan, are currently in planning.
In this situation, Russia should try to take advantage of the existing route, Bezborodov said. If container traffic by the Trans-Siberian Railway increases Russian companies would expand their presence in the market.
It is usually said that sea transportation is less costly than railway transportation. However, the transportation cost by the Trans-Siberian Route from China to Moscow and Eastern Europe is the same as by sea routes, he added.
Difficulties with the New Silk Road belt are rooted in its grandiose scope, Andrei Karneev, deputy director of the MSU Institute for Asian and African Studies, pointed out.
According to him, each country involved in the project wants to preserve its sovereignty and pursues its own interests.
There are two groups of possible risks for the implementation of the New Silk Road, according to Karneev. The first include political diversity in the region, and differences in interests between China and the other participants. The second group is economic risks. There are concerns over the efficiency of investments in the project.
"I think that finally an interim version of the initial plan will be implemented. This will not be a mega-project. But investments will be made in a number of modernization and transportation programs which would closely tie China to its neighbors and the entire global economy," the expert concluded.
Read more: http://sputniknews.com/business/20160615/1041366568/new-silk-road-plans.html#ixzz4BgknonHB
© Sputnik/ Vitaliy Ankov
Business
14:39 15.06.2016(updated 16:59 15.06.2016) Get short URL
11200212
The Silk Road Economic Belt is one of the most ambitious infrastructure projects in Eurasia. The initiative is one of the top priorities for the Chinese government.
On June 17, Chinese President Xi Jinping will start a five-day trip across Eastern and Central Europe as well as Central Asia in a bid to promote the project.
The New Silk Road is expected to establish a common economic space across the entire continent. However, the project has also faced criticism.
Opponents say that such an ambitious plan is nearly impossible to implement, taking into account the political and economic differences between the countries involved.
In an interview with Lenta.ru, experts of the Valdai International Discussion Forum shared their thoughts on the significance and prospects of the ambitious project.
"The New Silk Road is a large-scale political and economic initiative with great potential. But so far the project lacks practical and conceptual substance. It needs a plan of practical steps," analyst Timofei Bordachev said.
The official goal of the New Silk Road is to create jointly with Russia and all Eurasian nations a common area of development and prosperity. However, each participant also has its own interests.
For instance, China wants to expand the activity of its logistic and construction companies beyond its borders. At the same time, other companies do not want China to bring its companies and workers there. They want China to create regional jobs, helping to boost their economies.
In turn, Russia’s goal is to combine Chinese supply and domestic demand, Bordachev said. Russia should use China’s potential to develop Central Asian economies in a bid to stabilize the region.
Currently, the Eurasian Economic Commission is working on a draft cooperation agreement between the Eurasian Economic Union and China.
"In a long-term perspective, the initiative is likely to be implemented. But all participants should cooperate and take into account the interests of the entire region," he concluded.
Alexei Bezborodov, head of Infranews agency specializing in transportation and logistics, noted that currently there are two actual transportation routes within the Silk Road initiative. The first goes via Russia’s Far East, along the Trans-Siberian Railway, to Moscow and then to Europe. The second one goes from western China via Kazakhstan then to Russia and Europe.
Other alternatives, including via the Caspian Sea to Turkey and Georgia, and across Turkmenistan, are currently in planning.
In this situation, Russia should try to take advantage of the existing route, Bezborodov said. If container traffic by the Trans-Siberian Railway increases Russian companies would expand their presence in the market.
It is usually said that sea transportation is less costly than railway transportation. However, the transportation cost by the Trans-Siberian Route from China to Moscow and Eastern Europe is the same as by sea routes, he added.
Difficulties with the New Silk Road belt are rooted in its grandiose scope, Andrei Karneev, deputy director of the MSU Institute for Asian and African Studies, pointed out.
According to him, each country involved in the project wants to preserve its sovereignty and pursues its own interests.
There are two groups of possible risks for the implementation of the New Silk Road, according to Karneev. The first include political diversity in the region, and differences in interests between China and the other participants. The second group is economic risks. There are concerns over the efficiency of investments in the project.
"I think that finally an interim version of the initial plan will be implemented. This will not be a mega-project. But investments will be made in a number of modernization and transportation programs which would closely tie China to its neighbors and the entire global economy," the expert concluded.
Read more: http://sputniknews.com/business/20160615/1041366568/new-silk-road-plans.html#ixzz4BgknonHB
Yesterday at 2:18 pm by Rocky
» utube MM&C 4/26/24 Iraqi Dinar - US Treasury Exchange Rates- Focus - Banking Partnerships - Rate C
Yesterday at 2:17 pm by Rocky
» Parliamentary efforts to transform Iraq into a global market for transferring Internet capacities
Yesterday at 2:07 pm by Rocky
» A parliamentary committee that enriches the political forces: Stop plundering Iraq’s wealth and work
Yesterday at 1:56 pm by Rocky
» Politician: Salem Al-Issawi is the most likely to assume the presidency of Parliament
Yesterday at 1:55 pm by Rocky
» The price of the dollar is close to 145 thousand dinars؛ how much is $100 worth of transactions؟
Yesterday at 11:57 am by wciappetta
» Al-Sudani: The world today is witnessing crises whose impact has been reflected in the global econo
Yesterday at 9:50 am by Rocky
» The Federal Court responds to an inquiry by Al-Sudani regarding the powers of the provincial council
Yesterday at 9:40 am by Rocky
» Among them are the Iraqis... a list of the most sought-after immigrants to America
Yesterday at 9:38 am by Rocky
» An expert talks about the "biggest barrier" and the positives of merging Iraqi and Arab banks
Yesterday at 9:29 am by Rocky
» The House of Representatives adjourns its session
Yesterday at 9:24 am by Rocky
» Parliamentary demands to expedite the legislation of the Eid al-Ghadir holiday law (documents)
Yesterday at 9:23 am by Rocky
» Parliament adds the paragraph “Electing the Speaker of the House of Representatives” to its agenda
Yesterday at 9:21 am by Rocky
» Alsumaria publishes the text of the law against prostitution and homosexuality
Yesterday at 9:20 am by Rocky
» A parliamentarian reveals the reason for the failure of the Speaker of Parliament to pass during tod
Yesterday at 9:19 am by Rocky
» Al-Sudani: The government has launched many strategies and initiatives that will improve the reality
Yesterday at 8:42 am by Rocky
» International Business: Iraq has made progress in supporting businesses through investment and priva
Yesterday at 8:33 am by Rocky
» Association of Banks: Iraq is witnessing great development in the transition to electronic governmen
Yesterday at 8:25 am by Rocky
» The House of Representatives votes to add an item to its agenda (election of the Speaker of the Hous
Yesterday at 8:22 am by Rocky
» Parliamentary integrity: Combating corruption requires parliamentary legislation
Yesterday at 8:15 am by Rocky
» Al-Karaawi: America is trying to restrict Iraq
Yesterday at 8:13 am by Rocky
» The State of Law coalition moves to form the local government in Diyala
Yesterday at 8:12 am by Rocky
» The Sudanese and his battle against corruption.. Where is the fault with the government or with the
Yesterday at 8:11 am by Rocky
» Prime Minister's Advisor: We will see the dollar fall on the black market soon
Yesterday at 8:09 am by Rocky
» The Sunni blocs are resolute. The presidency of the Council is ours, away from Al-Halbousi
Yesterday at 8:08 am by Rocky
» Al-Sudani discusses with a workers’ organization his government’s steps in this field
Yesterday at 7:58 am by Rocky
» Parliament holds its session in the presence of 170 deputies
Yesterday at 7:57 am by Rocky
» In the presence of Nechirvan Barzani and Al-Sudani... the State Administration Coalition holds an “i
Yesterday at 7:55 am by Rocky
» The UAE company ADNOC resorts to Iraqi oil. Find out the reasons
Yesterday at 7:53 am by Rocky
» The Iraqi Parliament votes to add an item to elect a president to its agenda
Yesterday at 7:52 am by Rocky
» The Federal Court responds to an inquiry by Al-Sudani regarding the powers of the provincial council
Yesterday at 7:51 am by Rocky
» Al-Sudani: It is necessary to attract women to work as a productive energy that cannot be disrupted
Yesterday at 7:47 am by Rocky
» Zebari regarding targeting the Kormor field: a systematic attack on the economy of Kurdistan
Yesterday at 7:46 am by Rocky
» Saudi Arabia tops, and this is Iraq's rank... a list of major suppliers of crude oil to South Korea
Yesterday at 7:45 am by Rocky
» With a value of 125 million dollars.. Iraq is at the forefront of countries importing Iranian textil
Yesterday at 7:44 am by Rocky
» More than a billion dollars in sales from the Iraqi Central Bank within a week
Yesterday at 7:43 am by Rocky
» Al-Sudani stresses the need for the expertise of the International Labor Organization to legislate a
Yesterday at 7:29 am by Rocky
» Including the return of 21 wanted persons.. The Iraq Money Recovery Fund counts its achievements in
Yesterday at 7:27 am by Rocky
» The path to development is the criterion between true patriotism and political clowning.
Yesterday at 7:25 am by Rocky
» The file of the Presidency of Parliament is on the state administration table... this evening
Yesterday at 7:22 am by Rocky
» Director General of the International Labor Organization: Many challenges in the world of work and t
Yesterday at 7:20 am by Rocky
» Al-Sudani: The world is witnessing crises that reflect negatively on the Arab and international peop
Yesterday at 7:11 am by Rocky
» Prime Minister: Our government has provided great support for the success of the activities, program
Yesterday at 7:08 am by Rocky
» Al-Asadi: Iraq places the social protection file among its priorities
Yesterday at 7:07 am by Rocky
» Al-Sudani: Iraq is one of the first countries in the region to join the International Labor Organiza
Yesterday at 7:05 am by Rocky
» In the presence of Al-Sudani and Barzani, the State Administration Coalition holds an “important” me
Yesterday at 7:03 am by Rocky
» Appreciating the presence of Al-Sudani... Director General of the Arab Labor Organization: Here from
Yesterday at 5:29 am by Rocky
» Prime Minister: Our government has provided great support for the success of the activities, program
Yesterday at 5:28 am by Rocky
» Al-Sudani: The world is witnessing crises that reflect negatively on the Arab and international peop
Yesterday at 5:24 am by Rocky
» The Parliamentary Development Institute organizes a workshop on the political role of the representa
Yesterday at 5:22 am by Rocky
» With Arab and international participation. Tomorrow will be the start of the Fourth Baghdad Internat
Yesterday at 5:21 am by Rocky
» OPEC Secretary General: The end of oil is not on the horizon
Yesterday at 5:19 am by Rocky
» Closing a number of unlicensed offices and companies south of Baghdad
Yesterday at 5:16 am by Rocky
» Repercussions of the bombing...intensive government movements to resume work in the “Kormor” field
Yesterday at 5:15 am by Rocky
» In the presence of Al-Sudani...the opening of the Arab Labor Conference in its 50th session in Baghd
Yesterday at 5:14 am by Rocky
» Al-Sudani: We are working on drawing future visions regarding the “green and digital” economic secto
Yesterday at 5:13 am by Rocky
» Barzani after the Kormor attack: We are ready to coordinate with Baghdad to put an end to these atta
Yesterday at 5:10 am by Rocky
» Al-Sudani directs the formation of an investigative committee into the circumstances of the Kormo fi
Yesterday at 5:08 am by Rocky
» Bismayah is confused about the new electronic portal.. What about the landlord and the subcontracts?
Yesterday at 5:07 am by Rocky
» Kurdistan Government: Loss of 2,500 megawatts of electricity due to targeting the Kormor field
Yesterday at 5:06 am by Rocky
» Crisis in Kurdistan: 12-hour daily power outage and complaints of “confusion”
Yesterday at 5:05 am by Rocky
» The Supreme Anti-Corruption Commission demands Nineveh for the contracts concluded by “Najm Al-Jubou
Yesterday at 5:04 am by Rocky
» Al-Khanjar, Al-Samarrai, and Abu Mazen are hosted by Shaalan Al-Karim to discuss accelerating the se
Yesterday at 5:03 am by Rocky
» Iraq asks the countries of the world to respond to its requests to extradite wanted persons: We have
Yesterday at 5:02 am by Rocky
» “It is coming soon.” The Sudanese advisor sets the date for the referral of the Baghdad metro and th
Yesterday at 5:01 am by Rocky
» Al-Mubarqa: Iraq reserves its full right to respond to the Australian behavior
Yesterday at 5:00 am by Rocky
» Dollar exchange rates on Iraqi stock exchanges... recorded a decline, and this is the list
Yesterday at 4:58 am by Rocky
» Mr. Al-Sadr supports the position of American university students
Yesterday at 4:56 am by Rocky
» Iraqis are ranked 7th in the Arab world on the list of those most seeking immigration to America. He
Yesterday at 4:55 am by Rocky
» Soon.. 3 new hospitals will open in Baghdad
Yesterday at 4:52 am by Rocky
» Sponsored by Al-Sudani...the opening of the Arab Labor Conference in its fiftieth session in Baghdad
Yesterday at 4:51 am by Rocky
» Al-Shammari chairs a meeting at the controlling headquarters to review the results of the security o
Yesterday at 4:49 am by Rocky
» Arab Labor Organization: We commend Iraq's interest in the Arab Labor Conference
Yesterday at 4:48 am by Rocky
» Al-Sudani: The development road project will provide many job opportunities
Yesterday at 4:47 am by Rocky
» Sudanese advisor criticizes Kuwaiti analyzes regarding the development road project
Fri 26 Apr 2024, 2:21 pm by Rocky
» Al-Mandalawi stresses the need to strengthen economic and trade cooperation between Iraq and Poland
Fri 26 Apr 2024, 2:04 pm by Rocky
» Power maneuvers: America provides defensive weapons to Kurdistan in exchange for withholding from Ba
Fri 26 Apr 2024, 10:26 am by Rocky
» Kuwait is drilling an oil well near Umm Qasr, towards Iraqi territory
Fri 26 Apr 2024, 10:24 am by Rocky
» In the document... the first Iraqi ministry identifies the obstacles to changing the new official wo
Fri 26 Apr 2024, 10:22 am by Rocky
» Italian Institute: Iraq is stuck in its own crises, including Baghdad’s efforts to undermine the “au
Fri 26 Apr 2024, 10:21 am by Rocky
» The head of the Integrity Commission announces the holding of an international Interpol conference i
Fri 26 Apr 2024, 10:18 am by Rocky
» Planning: Iraqi companies are not efficient in conducting the population census
Fri 26 Apr 2024, 10:14 am by Rocky
» MM&C 4/25/24 National Bank of Iraq goes live with Temenos core banking and payments
Fri 26 Apr 2024, 8:06 am by Rocky
» A banking official indicates a "danger" to Iraq by depriving more than half of its banks of dollars
Fri 26 Apr 2024, 7:55 am by Rocky
» With the participation of the Association of Private Banks, investment opportunities are on the tabl
Fri 26 Apr 2024, 7:45 am by Rocky
» Within a month... an Iranian border crossing recorded a noticeable increase in exports of goods to I
Fri 26 Apr 2024, 7:44 am by Rocky
» The Association of Private Banks appreciates the efforts of the government and the Central Bank to c
Fri 26 Apr 2024, 7:43 am by Rocky
» Al-Maliki's coalition presents a third candidate for the position of governor of Diyala
Fri 26 Apr 2024, 6:57 am by Rocky
» Arab gathering: The Kirkuk problem is getting complicated and the Sudanese must intervene
Fri 26 Apr 2024, 6:56 am by Rocky
» Next week.. a Kurdish delegation will visit Baghdad to meet with the Minister of Finance
Fri 26 Apr 2024, 6:54 am by Rocky
» Under the pretext of salaries... Al-Party refrains from handing over port revenues to Baghdad
Fri 26 Apr 2024, 6:53 am by Rocky
» Association of Banks: For the first time, we are witnessing a clear targeting of depriving half of t
Fri 26 Apr 2024, 6:51 am by Rocky
» Parliament does not know the reason for the delay in sending the 2024 budget schedules: Voting takes
Fri 26 Apr 2024, 6:49 am by Rocky
» Applicants for the 2024 Hajj are demanding that the Central Bank secure the dollar for them through
Fri 26 Apr 2024, 5:09 am by Rocky
» Governmental and private banks will showcase their services tomorrow during Financial Inclusion Week
Fri 26 Apr 2024, 5:08 am by Rocky
» Iraq's oil exports rise despite OPEC+ cuts
Fri 26 Apr 2024, 5:06 am by Rocky
» A study explodes a "surprise"... Iraq is among the countries that export oil to "Israel": How is the
Fri 26 Apr 2024, 5:04 am by Rocky
» Al-Araji emphasizes working to strengthen national identity
Fri 26 Apr 2024, 5:02 am by Rocky
» Al-Sudani visits Saudi Arabia to participate in the World Economic Forum in Riyadh
Fri 26 Apr 2024, 5:01 am by Rocky