The Chinese Silk Road Economic Belt Initiative

Published on Author santangeloz17

With China’s economy slowing down, the government is trying to find ways to spur economic growth. The Chinese Foreign Ministry Wang Yi proposed creating a trilateral economic corridor between China, Russia, and Mongolia, connected by a high speed train. This trade agreement is reminiscent of the famous Great Silk Road.

The high speed train would cost about $5.2 billion dollars and it would be the first high
speed train in Russia. It would connect Moscow and Beijing in just 48 hours. It would serve as an economic benefit not just for the three countries involved, but for the entire Eurasia economy. The Eurasian Economic Union (EEU) founded by Russia in January of this year, includes Russia, Armenia, Belarus, and Kazakhstan. Its goal is to promote trade within the region and exploit comparative advantages of each of the countries. With the proposed Silk Road connecting Russia and China, it would not be surprising to see China join the EEU.

China’s close political ties with Russia are exemplary of China’s neutral political policy. Although most of the western world is shunning Russia for their violence in Ukraine and Crimea, China is more concerned about economic issues.


3 Responses to The Chinese Silk Road Economic Belt Initiative

  1. I wonder if the construction of this rail line will cause cities to spring up in previously uninhabited areas of China.

  2. A book by Jan de Vries traces the growth of cities in Europe. Most date back to Roman era. There are however a few railroad cities — but no many.

    What is the timeframe of this project? 5 years? 10 years?

  3. Although this might not mean much in reality, this makes me think of what a unified China and Russia would look like for the world. If they were to become “best friends” so to speak, their combined power would be an incredible force in the world. I understand that is is far-fetched, but if this train would were to really strengthen their economic relationship, political ones might not be too far behind…