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Channels of Chinese Capital Penetration to the Central Asian Countries within the Framework of the Belt and Road Initiative

Author

Listed:
  • Madina O. Turaeva

    (Institute of Economics of the Russian Academy of Sciences)

  • Svetlana P. Glinkina

    (Institute of Economics of the Russian Academy of Sciences)

  • Artem A. Yakovlev

    (Institute of Economics of the Russian Academy of Sciences)

Abstract

The research pursues the question of evaluating the scales of the actual presence of Chinese capital in the Central Asian economies. The article reviews traditional and new channels used by China to enhance its presence in Central Asia within the framework of the Belt and Road Initiative. The methodological basis of the work is the classical and modern concepts of economic science. The solution of the tasks set within the study preconditioned the application of an interdisciplinary approach, the use of the scientific framework of related disciplines, as well as general and specific methods of research aimed at identifying trade and non-commercial channels for the penetration of Chinese capital into the region. In addition, the article discusses statistical discrepancies in recording of the scales of China’s actual presence in the Central Asian region. The research findings demonstrate that cooperation in trade is weakening, the focus shifts towards the channels related to new technologies, particularly to acquiring controlling inter? ests in the strategic regional companies, EPC contracts for infrastructure projects, as well as outsourcing services provided to large Western multinationals, which have an extensive network of branches and significant administrative base in the countries of the region. Finally, the authors conclude about the debt burden of the Central Asian countries to China and validity of fears related to some of the republics being at the edge of bankruptcy

Suggested Citation

  • Madina O. Turaeva & Svetlana P. Glinkina & Artem A. Yakovlev, 2018. "Channels of Chinese Capital Penetration to the Central Asian Countries within the Framework of the Belt and Road Initiative," Journal of New Economy, Ural State University of Economics, vol. 19(4), pages 64-78, August.
    • Handle: RePEc:url:izvest:v:19:y:2018:i:4:p:64-78
    DOI: 10.29141/2073-1019-2018-19-4-5
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    References listed on IDEAS

    as
    1. Economy, Elizabeth & Levi, Michael, 2014. "By All Means Necessary: How China's Resource Quest is Changing the World," OUP Catalogue, Oxford University Press, number 9780199921782.
    2. Julie Jiang & Jonathan Sinton, 2011. "Overseas Investments by Chinese National Oil Companies: Assessing the Drivers and Impacts," IEA Energy Papers 2011/3, OECD Publishing.
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    More about this item

    Keywords

    public debt; EPC contract; trade; natural resources; infrastructure; Central Asia; China; the Belt and Road Initiative.Journal: Journal of New Economy;
    All these keywords.

    JEL classification:

    • F20 - International Economics - - International Factor Movements and International Business - - - General
    • L70 - Industrial Organization - - Industry Studies: Primary Products and Construction - - - General
    • P52 - Political Economy and Comparative Economic Systems - - Comparative Economic Systems - - - Comparative Studies of Particular Economies

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