Abstract:

The ‘New Silk Road’ Initiative, which involves over 60 participants and ample funding resources, was launched by the Chinese government to enhance China’s position as a global power. This grandiose project has attracted much attention worldwide. Since the time of ancient Byzantium, international trade has always been a major driving force behind China's economic development. This research aims to analyze the benefits and problems associated with the possible inclusion of Russia's priority development areas (PDAs) and the free port of Vladivostok into the ‘Silk Road Economic Belt’. The Far East is attractive for investors as it is rich in energy and natural resources and has a potential for creating new jobs while the region’s transport infrastructure could be fully integrated into the ‘Silk Road’ Initiative. In our analysis we used the official data provided by the Russian and Chinese governments. Our further research will investigate the potential of the Northern Sea Route for the ‘Silk Road Economic Belt’ Initiative and the Russia-China relationship.