Abstract
The «One Belt, One Road» (OBOR) initiative was proposed by Chinese President Xi Jinping during his visits to Kazakhstan and Indonesia, in 2013. The initiative «One Belt, One Road» could be fully treated as a comprehensive domestic and foreign policy concept. OBOR is designed to strengthen China as an attractive actor in the global market and advance its soft power. It is mostly aimed at increasing economic exchanges between China and the world. Historically the concept of the «Silk Road» was not only focused on the trade agenda. It also had rather significant cultural meaning. Obviously, the OBOR initiative could serve as a cultural bridge between China and the world and in this sense, emphases the dialogue between civilizations, not only markets and forces. With its long-term interests, China treats OBOR as a grand strategy. The initiative has been extensively discussed among academics and policy-makers both inside and outside China. The article shows also coordinating efforts of China and Russia in regional development as well as the internationalization of Central Asian region after 1991 and the role of China in this process. Contours of possible great powers rivalry as well as lack of mutual political trust between the Central Asian countries are described. This article intends to provide the analysis on the issue from the Chinese scholars’ perspective.
Highlights
The «One Belt, One Road» (OBOR) initiative was proposed by Chinese President Xi Jinping during his visits to Kazakhstan and Indonesia, in 2013
The OBOR initiative could serve as a cultural bridge between China and the world and in this sense, emphases the dialogue between civilizations, markets and forces
There is a large gap on the level of economic development between countries of “One Axis, Two Wings”, including countries neighboring China, 24 countries in Europe, Africa and elsewhere in Asia and 7 Latin American countries2, and other countries, engaged in global economic integration process3, promoted by United States and Europe [Fergusson, Williams 2016]
Summary
WTO Doha Round of negotiations have stranded, showing that WTO is becoming a minimum threshold of global free trade cooperation. For China, the most important task is to provide these rules in accordance with China’s own wishes These rules are often formed by the developed countries, and reflect their demands and interests. If these rules eventually dominate the new order, it could lead to the emergence of new global political and economic development imbalances In this case, China has to develop an overall strategic plan to actively respond the challenges of the regional trade liberalization. Covering mainly the area in Southeast Asia, Central America and Oceania, the key trading partners are mostly developing countries. In this regard it’s difficult to compare China's FTA strategy with any other current existing trade agreements in scope. As Nakhodka Port has recently been declared a Free Economic Zone, it can get numerous advantages being a key point within the “One Belt and One Road”
Sign-in/Register to view highlights & summary Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
