Journal of Applied Economic Research
ISSN 2712-7435
“Convenient” Partnership of Russia and China within Project Implementation of ‘Silk Road Economic Belt’
Koretskaia-Garmash V.A.
Abstract
The paper studies the problem of forming partnership relations between the two great states of <st1:country-region w:st="on">Russia</st1:country-region> and <st1:place w:st="on"><st1:country-region w:st="on">China</st1:country-region></st1:place>. The purpose of the article is to develop practical recommendations for the implementation of the project "Silk Road Economic Belt" by including into this project the priority areas for socio-economic development of the Far East, the free port of <st1:city w:st="on">Vladivostok</st1:city> and the <st1:street w:st="on"><st1:address w:st="on">Northern Sea Route</st1:address></st1:street> as an alternative route for shipping Chinese goods to <st1:place w:st="on">Europe</st1:place>. The following methods of scientific knowledge were applied: comparative and critical analysis, graphical and tabular methods. The analysis of the existing options for the implementation of the project "Silk Road Economic Belt" across the <st1:placetype w:st="on">territory</st1:placetype> of <st1:placename w:st="on">Russia</st1:placename>, <st1:country-region w:st="on"><st1:place w:st="on">China</st1:place></st1:country-region> and European countries were analyzed. We considered the indicators of cooperation between <st1:country-region w:st="on">Russia</st1:country-region> and <st1:country-region w:st="on"><st1:place w:st="on">China</st1:place></st1:country-region> to prove the fact of convenient partnership and the use of favorable geographical location to reduce transportation costs for the supply of Chinese goods by land and sea. The advantages and problems have been identified of the entry of Chinese investors into the priority areas for socio-economic development and the free port of <st1:city w:st="on"><st1:place w:st="on">Vladivostok</st1:place></st1:city> when making decisions on the development and implementation of joint Russian-Chinese investment projects. It has been concluded that the <st1:street w:st="on"><st1:address w:st="on">Northern Sea Route</st1:address></st1:street> is effective in the framework of the "Silk Road Economic Belt" for the implementation of domestic Russian projects related to the transportation of minerals, providing year-round transport links with hard-to-reach areas, protection of Chinese goods from armed attacks by the icebreaker fleet. At the same time, it has been proven that the Northern Sea Route is the leader in terms of safety and speed of container transportation, as the delivery of cargo from China to Murmansk by sea and then by rail takes 20-25 days, which is 2-3 times faster than through the Southern Sea Route. The results are of interest to Russian and Chinese investors participating in the project «Silk Road Economic Belt».
Keywords
Silk Road Economic Belt; priority areas for socio-economic development (PDAs); free port of Vladivostok; Northern Sea Route; piracy; icebreaker fleet.
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About Authors
Koretskaia-Garmash Viktoriia Aleksandrovna – Candidate of Economic Sciences, Associate Professor, Department of Finance and Tax Management, Ural Federal University named after the first President of Russia B.N. Yeltsin, Ekaterinburg, Russia (620002, Ekaterinburg, Mira street, 19); e-mail: vkoretskaia-garmash@urfu.ru
For citation
Koretskaia-Garmash V.A. «Convenient» Partnership of Russia and China within Project Implementation of «Silk Road Economic Belt». Bulletin of Ural Federal University. Series Economics and Management, 2018, Vol. 17, No. 6, 924–949. DOI: 10.15826/vestnik.2018.17.6.041
Article info
Received October 22, 2018; Accepted November 8, 2018.
DOI: http://dx.doi.org/10.15826/vestnik.2018.17.6.041
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