Abstract
The Belt and Road Initiative advocated by China is expecting to assist in the infrastructure and financing of participating countries and promote free trade through cooperation with countries along the Belt and Road. China hopes to lead the regional economic integration process through investment-driven trade. Out of geopolitical considerations, Russia and India initially held a relatively negative or cautious attitude towards the Belt and Road Initiative. Therefore, Russia proposed the concept of the Eurasian Economic Union (EEU) in 2011 in order to unite the other independent ASEAN countries based on the customs alliance consisting of Russia, Belarus, and Kazakhstan, and thus create a supranational consortium, which in turn have the ability to compete and cooperate with the Belt and Road Initiative proposed by China. In 2014, India launched the Indian version of the Belt and Road Initiative, named Project Mausam, expecting to promote the integration of economic and trade exchanges around the Indian Ocean with India as the center. However, after recent strikes by the trade war, China actively seeks assistance from India and Russia in order to break through the US trade blockade. During the G20 summit held in Japan in June 2019, China, India, and Russia held a three-party talk. After the talk, the three countries issued a joint statement claiming that “they shall undertake more global responsibilities to protect the fundamental and long-term interests of the three countries themselves and the world”, which seems to have opened up opportunities for future cooperation among the three countries. Therefore, this paper explores the competitive and cooperative relationship among China, India, and Russia under the Belt and Road Initiative.
Highlights
The Belt and Road Initiative is the response of China to its slowing economic growth in recent years
Russia proposed the concept of the Eurasian Economic Union (EEU) in 2011 in order to unite the other independent ASEAN countries based on the customs alliance consisting of Russia, Belarus, and Kazakhstan, and create a supranational consortium, which in turn have the ability to compete and cooperate with the Belt and Road Initiative proposed by China
The Eurasian Economic Union proposed by Russia and the Project Mausam launched by India are clearly targeted at the Belt and Road Initiative
Summary
The Belt and Road Initiative is the response of China to its slowing economic growth in recent years. As the Belt and Road Initiative spreads across Europe, Asia, and Africa, China can integrate the economic interests of many countries along the strategic path and hopes to resolve the dilemmas of domestic excess capacity and fund idling. In the early stage, Russia located along the Belt and India located along the Road held a mixed attitude toward China’s promoting the Belt and Road Initiative, concerned while reserved. Under the great influence of Russia on the five Central Asian countries and the great influence of India on the Association of Southeast Asian Nations, the success of the Belt and Road Initiative in these two blocks is related to the westward expansion success of the Belt and Road Initiative. China’s relationship with Russia and India as well as the countries in the above two blocks is the key to the Belt and Road Initiative and an observational focus of this study
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