INFLUENCE OF THE ECONOMIC PROJECT "THE SILK ROAD" ON THE DEVELOPMENT OF EASTERN PARTS OF RUSSIA AND CHINA

Abstract

In the article the author presents the strategy of development “One Belt and One Road Initiative” which has been suggested as a national strategy of People's Republic of China for the last five years. In practice the theory of the project in volume and inner essence is widening. The author underlines that not only China needs this economic initiative but the whole world needs a wider economic platform which is suggested by China. Russia as a strategically significant adjacent land area has worked its way from the passive acceptance to active participation. Effective coordination with the Eurasian Economic Union has gradually decreased Russia’s concern. In particular, Chinese “Silk Road Economic Belt” coincides with Russia’s strategy in relation to the Far East development. It is necessary to cooperate on developing “Silk Road Economic Belt” and Eastern Russia. It is necessary for China to reclaim north-eastern territories and for Russia to develop Far East. Initiatives “One Belt and One Road”, Land and Maritime Silk Road of the Heilongjiang Province provide for Russia substantial financial assurance to develop the eastern region, hasten the realization of the strategy of Far East development. China has great possibilities for cooperating with Russia in the resource sector. Due to this economic initiative the status of China and Russia’s role in interregional cooperation on the grounds of North-East Asia and Asia-Pacific Region is determined. The author supposes that strategic and successful integration can overcome national problems, create the integrated strategic area and strive for realizing cooperative development goals and consequently realize the strategy of mutual profit.