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Evaluation of the first results of the Russian–Chinese cooperation as part of China's One Belt, One Road Initiative

Leksyutina Ya.V. Saint Petersburg State University, St. Petersburg, Russian Federation ( lexyana@ya.ru )

Journal: National Interests: Priorities and Security, #7, 2018

Importance Considering the long-term and strategic nature of China's One Belt, One Road (OBOR) Initiative, it is necessary to understand what its implementation means for the Russian Federation.
Objectives The research evaluates the outcome of China's OBOR initiative from the Russian perspectives.
Methods The outcome of the Russian–Chinese cooperation as part of the OBOR initiative was examined in terms of three aspects, i.e. growth in the transit and transportation potential of Russia, revitalization of investing activity of China in Russia, trade between Russia and China, intensification of political collaboration and humanitarian ties between Russia and China.
Results The article points out methodological difficulties in evaluating the current outcome of the OBOR initiative and indicates goals China and Russia pursue in this initiative. I also enumerate possible challenges, which the initiative may represent for Russia, and summarize the outcome of the Russian–Chinese cooperation as part of the initiative.
Conclusions and Relevance The outcome of the Russian–Chinese cooperation as part of the OBOR initiative are rather mediocre. Russia has not yet managed to unfold the potential the OBOR initiative brings and use opportunities the initiative allegedly gives for the development of many countries worldwide.


The BRICS efforts to modify the international monetary and financial system

Leksyutina Ya.V. Saint-Petersburg State University, St. Petersburg, Russian Federation ( lexyana@ya.ru )

Journal: National Interests: Priorities and Security, #11, 2016

Importance As a platform for innovative dialogue, the BRICS focuses its efforts to expand opportunities of its member countries for elaborating and taking global economic decisions. The article discusses the BRICS activity for stimulating changes in the global monetary and financial systems.
Objectives The research describes the BRICS attempts to change the global monetary and financial system, which is not quite compliant with the emerging economies' interests, thus restraining their further economic advancement.
Methods The research relies upon a systems approach, institutional methodological approach, principle of historicism and method of statistical analysis.
Results The article demonstrates that the BRICS representation and the role of its members in the IMF and World Bank fail to match their increased economic influence. I also evaluated the World Bank and IMF reforms initiated in 2010, reviewed principles of new monetary and financial institutions of the BRICS, determined further measures the BRICS should undertake to promote changes in the global monetary and financial system.
Conclusions and Relevance Developed economies of the West are very reluctant to rearrange the global monetary and financial system and strengthen the role of emerging economies in the process of making decisions on global economy management. This is the reason why reforms of the governance system and allocation of quotas significantly stalls in the IMF and World Bank. The BRICS efforts pursue improving the existing system, making it more efficient, stable and fair, aligning it with ongoing global developments concerning the economic power of developed and developing economies, neutralizing a majority of the Western countries and the pro-Western inclination of the leading international financial institutions.


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