The analysis of the development of the sino-russian economy and trade within the Belt and Road initiative

Authors

  • Li Hongyu Institute of Marxism of the China University of Petroleum (Huadong)

DOI:

https://doi.org/10.7242/2658-705X/2019.2.8

Keywords:

The Belt and Road concept, China, Russia, economy and trade

Abstract

The New Silk Road Economic Belt and the 21st Century Maritime Silk Road united under the short title «The Belt and Road» represent a collaborative project of the economic development of China and its neighboring countries which are at the same time its partners. While the global economy is improving, the Chinese economy is entering a new standard state, while the Russian economy currently demonstrates quite unbalanced economic structure.This article analyses the positive impact of the Belt and Road initiative on the sustainable development of China and Russia in the sphere of economics, cultural exchange and trade (for example, transboundary e-commerce). It is noted that having chosen the Belt and Road initiative as a starting point, both parties should pursue common goals strengthening their economic cooperation on mutually beneficial conditions and achieve new development by making common efforts.

Author Biography

  • Li Hongyu, Institute of Marxism of the China University of Petroleum (Huadong)
    Китайский нефтяной университет (Хуадун), Институт марксизма, докторант философии

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Published

2019-07-04

Issue

No. 2 (2019)

Section

Research: theory and experiment

How to Cite

Hongyu, L. . (2019). The analysis of the development of the sino-russian economy and trade within the Belt and Road initiative. Perm Federal Research Centre Journal, 2, 70-75. https://doi.org/10.7242/2658-705X/2019.2.8