Prospects for matching strategic directions of the intergraphic development of the Economic Union and the Economic belt of the Silk road

Abstract

The accelerated economic development of China in recent decades has allowed it to accumulate the potential to multiply its influence in Eurasia and initiate a number of ambitious political and economic projects designed for the long term. The most important of these are the concepts of the Silk Road Economic Belt (SREB) and the 21st Century Marine Silk Road (UWB), put forward by Chinese President Xi Jinping in autumn 2013 and subsequently combined under the title "One Belt — one way" as the strategy of China’s foreign economic policy, at least until 2022. Another factor behind the emergence of the SREB concept is the change in China’s foreign economic paradigm and its transition from a country attracting foreign direct investment to a donor country. Therefore, industrial cooperation is an important part of the SREB. In the negotiations of the EAEU countries with China on the integration of the EAEU and the SREB, it is necessary to take into account the interests of the industrial development of the EAEU countries, as well as the possible economic, political, operational and environmental risks that the process of interfacing with the SREB entails. It is necessary that the industrial cooperation of the EAEU countries and China be based on the principles of equality and mutual benefit.