scholarly journals Renminbi and Rouble in the Central Asia Economies

Author(s):  
A. Polivach

This article reviews usage of Russian and Chinese currencies in the economies of the five Central Asia countries (CA5) – for trade payments, intergovernmental and commercial loans and also in the official foreign exchange reserves. Information on these matters, unfortunately, is non-regular and very fragmented. However, based on the analysis of available data the author makes the following conclusions. Both the Renminbi and the Rouble are used in the CA5 economies in small scale, while the US Dollar absolutely dominates. Currently the Rouble is more popular than the Renminbi. It is especially visible in those countries, which are the members of the Eurasian Economic Union. Most likely relationship between the US Dollar, the Rouble and the Renminbi in the CA5 economies will not significantly change in the near future. However the usage of the Renminbi may substantially increase, if China removes all restrictions for trans-border capital movements. Also the usage of the Rouble may significantly increase, if Russia takes actions transforming its currency into a regional reserve currency.

Subject Japan-Central Asia ties. Significance Prime Minister Shinzo Abe will make a five-nation tour of Central Asia in August -- the first since Prime Minister Junichiro Koizumi's in 2006. With the Russia-led Eurasian Economic Union in effect as of January 1 and China fleshing out its plans for a 'New Silk Road Economic Belt', Japan presents itself as a 'third option' that could dilute China's and Russia's predominance. Impacts Opportunities for Japanese investment will grow, especially in the field of nuclear energy. Security ties could grow under the Abe government's defence reforms, 'proactive pacificism' and new interest in counter-terrorism. South Korea presents itself as another 'third option' and other countries are becoming more active too, even as the US presence recedes.


2020 ◽  
Vol 9 (3) ◽  
pp. 87-99
Author(s):  
Nabi Ziyadullayev ◽  
◽  
Ulugbek Ziyadullayev ◽  

The article reveals the features of the international trade, economic and integration priorities of the Republic of Uzbekistan. The conceptual approaches to joining the WTO, diversification of the geography and structure of foreign trade, as well as the expansion of foreign economic cooperation with world and regional powers, the CIS countries and Central Asia are substantiated. Particular attention is paid to risks and building vectors for effective interaction with the Eurasian Economic Union (EAEU), as well as mitigating the effects of the coronavirus pandemic on the national economy.


2020 ◽  
Vol 49 (1) ◽  
pp. 33-57
Author(s):  
Gaziza Shakhanova ◽  
Jeremy Garlick

The Russian-led Eurasian Economic Union (EAEU) is a key partner in China’s Belt, and Road Initiative (BRI), since it comprises the majority of territories which the BRI’s overland route, the Silk Road Economic Belt, needs to traverse as it crosses Central Asia on the way to Europe. The goal of this article is to explore the BRI in the context of BRI–EAEU coordination. The first part of the analysis focusses on the ways the Eurasian Economic Commission delineates the “Greater Eurasian Partnership” and counterposes it against China and the BRI. Then, the article compares two sets of interpretations of the BRI and “Greater Eurasian Partnership” obtained from interviews with elites in Kazakhstan and Russia. The interviews indicate that the BRI has had a much more forceful impact on local elites than Russia’s idea of “Greater Eurasian Partnership.”


Author(s):  
Ivan Zuenko

The 2010s became the time of active search for new forms of integration in the wide Eurasian space between Europe and East Asia. The most well-known is China’s One Belt One Road (OBOR) initiative and the Eurasian Economic Union (EAEU). A 7000-kilometre border between China and the EAEU was formed in 2015, which became a crucial factor in the cooperation of China and Post-Soviet Central Asia. Many regard the EAEU as just a Moscow geopolitical project and underestimated its real impacts on economic and political ties in Eurasia, particularly in post-Soviet Central Asia. This chapter examines the EAEU as a factor of international relations in the global discussion about the OBOR initiative.


2017 ◽  
Vol 8 (1) ◽  
pp. 104 ◽  
Author(s):  
Thomas Costigan ◽  
Drew Cottle ◽  
Angela Keys

Subject Prospects for Russia/CIS in the third quarter. Significance The third quarter could see a significant worsening of Russia's ties with the West. With the Donbas crisis threatening to erupt into open war as in 2014 and early 2015, the Minsk 2.0 process is strained to breaking-point. Recent months have seen the gradual deterioration of the February peace plan, with heavier skirmishing culminating in the recent battle for Maryinka. In Ukraine, the economic situation remains a major problem. In Central Asia, regional economies are suffering from Russia's slowdown, as some strengthen their integration with Russia as part of the Eurasian Economic Union (EEU).


2017 ◽  
Vol 08 (02) ◽  
pp. 1750011
Author(s):  
Satyendra Kumar Gupta ◽  
Ashima Goyal

We analyze prospects for the Chinese renminbi to become a major international currency, along with the US dollar, in a multiple reserve currency world. Analytical models on switching costs in networks and on currency choice under direct and indirect transaction costs are used to derive variables for empirical analysis. While network size and financial market depth (lower transaction costs) favor incumbents, changes in trade-related bargaining power and in currency volatility could favor newcomers. The models also point to political determinants affecting currency choice. We develop indices to quantify some of these. When the bargaining power index is used in estimation, it shows capital account openness and currency stability have to complement a rise in trade share for an aspiring reserve currency.


Author(s):  
A.F. Razin ◽  
R.A. Meshcheryakova ◽  
M.V. Shatilov ◽  
O.A. Razin ◽  
T.N. Surikhina ◽  
...  

Целями основания Евразийского экономического союза (ЕАЭС) было создание условий для стабильного развития экономик государств членов союза в интересах повышения жизненного уровня их населения, стремление к формированию единого рынка товаров, услуг, капитала и трудовых ресурсов, всесторонняя модернизация, кооперация и повышение конкурентоспособности национальных экономик государств членов союза в условиях глобальной экономики. Цель исследования проанализировать состояние овощеводства и обеспеченность овощами населения стран членов Евразийского экономического союза в составе Республик Армения, Беларусь, Казахстан, Кыргызской Республики и Российской Федерации. По итогам проведенного анализа установлено, что в период 20132017 годов посевные площади овощных культур в ЕАЭС выросли на 7,7 и превысили 1 млн га. В 2018 году валовой сбор овощей увеличился на 13 до 24,1 млн т. При этом более 62 овощей производится в хозяйствах населения и 22 в КФХ, что говорит о мелкотоварном характере производства и низкой товарности продукции в ЕАЭС. Лидер по производству овощей на душу населения Армения (324 кг/чел.), наименьшее значение в России 111 кг/чел., среднее по ЕАЭС 131 кг/чел. Урожай овощных культур увеличился во всех государствах членах союза, за исключением Армении, где этот показатель максимальный в рамках союза 286 кг/га. Объем импорта свежих овощей из третьих стран в период 20142017 годах снизился на 16,8 в натуральном выражении и на 33,4 до 1,8 млрд в денежном исчислении, что обусловлено введением продуктового эмбарго и снижением объема импорта в Россию практически в два раза. Взаимная торговля (по экспорту) свежими овощами увеличилась на 36,4 до 241 млн . Около 77 объема взаимной торговли приходится на поставки из Беларуси, при этом более 90 объема взаимной торговли овощами направлены на рынок России. Одной из мер по поддержке и развитию отрасли овощеводства могут стать: снижение доли посредников в потребительской цене на овощи, строительство тепличных комплексов для производства отечественных овощей в несезонный период и овощехранилищ и др.The objectives of founding the Eurasian economic Union (EAEU) was the creation of conditions for stable development of the economies of the member States of the Union to improve the living standards of their populations, the desire to create a common market of goods, services, capital and labor resources, comprehensive modernization, cooperation and competitiveness of national economies of member States of the Union in the global economy. The purpose of the study is to analyze the state of vegetable production and the availability of vegetables for the population of the member States of the Eurasian economic Union in the Republics of Armenia, Belarus, Kazakhstan, the Kyrgyz Republic and the Russian Federation. According to the results of the analysis, it was found that in the period 20132017, the acreage of vegetable crops in the EAEU increased by 7.7 and exceeded 1 million hectares. In 2018, the gross harvest of vegetables increased by 13 to 24.1 million tons. at the same time, more than 62 of vegetables are produced in households and 22 in farms, which indicates the small-scale nature of production and low marketability of products in the EAEU. The leader in the production of vegetables per capita is Armenia (324 kg/person), the lowest value in Russia is 111 kg/person, the average for the EEU is 131 kg/person. The yield of vegetable crops increased in all member States of the Union, with the exception of Armenia, where this figure is the maximum within the Union 286 kg/ha. The volume of imports of fresh vegetables from third countries in the period 20142017 decreased by 16.8 in physical terms and by 33.4 to 1.8 billion in monetary terms, due to the introduction of the food embargo and a decrease in the volume of imports to Russia almost twice. Mutual trade (by export) in fresh vegetables increased by 36.4 to 241 million. About 77 of the volume of mutual trade comes from Belarus, while more than 90 of the volume of mutual trade in vegetables is directed to the Russian market. One of the measures to support and develop the vegetable industry can be: reducing the share of intermediaries in the consumer price of vegetables, construction of greenhouse complexes for the production of domestic vegetables in the off-season period and vegetable stores, etc.


2019 ◽  
Vol 27 (4) ◽  
pp. 732-742
Author(s):  
Elena A. Egorycheva

Over the past decades, Russia and China have been steadily deepening their cooperation. It is seen in many fields: mutual trade agreements, investment and scientific cooperation, ecological and environment solutions to global issues. Russia is actively engaged in the Belt and Road Initiative proposed by China. Kazakhstan, Turkmenistan, Uzbekistan, Tajikistan, and Kyrgyzstan are engaged in it as well. Some of them are also members of the Eurasian Economic Union. The paper aimed to identify China’s and Russia’s current interests in these countries, as Central Asia (CA) is the area where Russia’s and China’s interests coincide. Trade relations between the analyzed countries are considered in it. The paper also addresses investment projects under Belt and Road Initiative, which China has been financing in CA countries.


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