Splint International Journal Of Professionals

  • Year: 2021
  • Volume: 8
  • Issue: 1

A conceptual study of the geo-economics and regional integration of the China-Central Asia economic corridor

  • Author:
  • Eric Balan1,, Mohammad Saeed2,
  • Total Page Count: 17
  • Page Number: 25 to 41

1Lecturer, Universiti Tun Abdul Razak, Malaysia

2Former Professor, Minot State University, USA

*Corresponding Author) email id: profsaeed@yahoo.com

**ericbalan@gmail.com

Online published on 17 June, 2021.

Abstract

For the last 10 years, the economic changes that countries have and had experienced are stemmed from the need to survive and to succeed in utilizing the ecosystem of geo-economics and a realization to compete economically with its fellow neighbouring nations, and this is inevitable with the strategic integrations and collaborations that are currently taking shape. For Central Asia, this is no exception. Once, a booming region for commodities trade is now facing economic challenges to sustain. China has had its eyes on the region long before the establishment of the Belt and Road, but this economic partnership is rather peculiar. The Chinese initiative is slowing changing the economic facades of Central Asia towards trade liberalization, cross sharing of knowledge, and increasing factor mobility across the five nations. With the Belt and Road Initiatives being the most significant diplomatic project of the 21st century, it is to wonder, how will the China - Central Asia Economic Corridor work? The dynamic force of Central Asia if pivotal towards China’s economic success would require a thorough analyse and evaluation of economic fitness. However, the main downside risks in this partnership includes another possible decline in commodity prices, regional and intra policy uncertainties, geopolitical risks, and international financial market disruptions. A weak and vulnerable internal banking system only amplifies internal and external economic shocks. On the invitation of the Chinese to collaborate on this endeavour, it questions the feasibility and viability of Central Asia in becoming a trusted and long-term economic partner to China.

Keywords

Belt and road, China-Central Asia, Economic corridor, Regional integration, Economic strategies