Questions and Situations on the Conjugation of the Eurasian Economic Union and the “Belt and Road” Initiative between China and Russia

Abstract

Implementation and “interconnection” of large-scale supranational projects, such as the EEU and the BRI, require constant analysis of external and internal factors determining its development, immediate reaction and decisionmaking by the most active and large member countries participating in these initiatives — by Russia and China. This paper continues the research series being made by Russian-Chinese team under the guidance of the Counselor to the Russian President, academician of RAS Dr. Glaziev and Executive Dean of Chongyang Institute for Financial Studies at Renmin University of China, Professor Wang Wen. The paper’s purpose is promotion and practical assistance to conjugation between the EEU and the BRI. The methodology having been used in the research combines a wide range of methods: from general scientifi c ones, including a systematic approach to the investigation of conjugation processes, statistical and comparative analyses of the national economies’ achievements, etc., to specialized technique, such as modern tools of scientifi c diplomacy. We made assessment of the current state and identifi cation of key risks and problems of conjugation between the EEU and the BRI, offered recommendations for improving its effi ciency as well as raising quantitative and qualitative indicators of inter-countries interaction. Joint efforts of both sides formed authors’ Glossary which contains the basic terms, eliminating incorrect or false interpretation and deepening understanding of conjugation processes in the space of Eurasia. We reached a conclusion that despite the achievements in political collaboration of the countries, fi nancial and economic cooperation within the EEU and the BRI remains a sector with the greatest potential for development not only because of the bottlenecks’ availability, but also thanks to the opportunities being opened with transition to a new technological and world economic mode. Particular attention is paid to the development of conjugation strategy and joint creation of new world orderon the basis of broad Eurasian integration. The text of the article is presented in a technical translation on the original Russian Chinese report in English.

Keywords

• economic interconnection
• financial cooperation
• new world order
• world technological and economic modes’ changing
• joint development mechanism
• joint glossary