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Belt and Path 2.0 Initiative and Russia
 
PIIS013128120007999-9-1
DOI10.31857/S013128120007999-9
Publication type Article
Status Published
Authors
Boris Kheyfets 
Occupation: Chief Researcher, Institute of Economics, Russian Academy of Sciences; Professor, Financial University under the Government of the Russian Federation
Affiliation:
Institute of Economics, Russian Academy of Sciences
Financial University under the Government of the Russian Federation
Address: Russian Federation
Nikita Stepanov
Affiliation: Institute of Economics, RAS
Address: Russian Federation
Journal nameProblemy Dalnego Vostoka
EditionIssue 6
Pages34-49
Abstract

The article analyzes the 6-year period of the implementation of the global Chinese project “One Belt, One Way” (OPOP), or the Belt and Way Initiative (PiP). Its positive aspects are highlighted: expanding the number of participants and their areas of interaction, creating a powerful financial base, creating new cross-border transport routes, increasing trade and investment among the countries participating in the project. Problems are identified, among which are the opacity of the OPOP projects, insufficient consideration of the national interests and local needs of China's partners, the strengthening of their geopolitical risks, and the “debt trap” of Chinese loans. Possible ways of deepening Russian-Chinese cooperation at the new stage of development of PiP 2.0 are suggested.

Keywords“One belt, one way”, “soft power”, hybrid economic partnership, debt trap, integration with the EAEU, fourth industrial revolution, Northern Sea Route (NSR)
Received22.12.2019
Publication date24.12.2019
Number of characters45794
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