THE CHINESE INITIATIVE “THE BELT AND ROAD”: A GEOGRAPHICAL PERSPECTIVE

Abstract

“The Belt and Road” is a long-term comprehensive strategic program for the development of Eurasia and the world, which has been promoted by China beginning in 2013. Its multi-dimensional features (in-country, regional, and global) are inclusive (multi-vector, the participation of all sectors of the economy) and have a strong non-economic component (“soft power”). The strategy is aimed at solving the problems of the Chinese economy with the help of foreign-policy methods and consolidation of China as an engine for the global economy. By virtue of its scale, the consistent implementation of the strategic provisions put forward in China would result in significant industrial and geographical transformations of the existing international division of labor. Active and proactive participation of Russia in the new course of China allows realization of the export and transit potential of Russia’s economy and helps mitigate imbalances in development between its parts. The authors discuss the concerns and risks associated with the implementation of initiatives.

Keywords

• the belt and road
• initiative
• geographical perspective
• industrial and geographical transformations
• the global economics engine.