The “Silk Road Economic Belt” and the “Greater Eurasian Partnership”: comparative analysis of the concepts and history of their development

The object of this research is the initiatives “Silk Road Economic Belt” of the People's Republic of China and “Great Eurasian Partnership” of the Russian Federation. Subject of this research is the content and history of development of the concepts. The goal is to analyze the prerequisites for advancing the initiatives, determine their points of intersection and fundamental differences. The common feature is the presence of external factors associated with the beginning of Trans-Pacific Partnership, as well as Transatlantic Trade and Investment Partnership, which pressed Russia and China to develop their own strategy in Eurasia. The fundamental difference is that the “Silk Road Economic Belt” does not imply the creation of any supranational governing body. The author underlines the rapid pace of implementation of the Chinese initiative and high degree of resistance to the negative factors. The conclusion is made that the practical content and scientific substantiation of the concept of “Greater Eurasian Partnership” continue to be discussed. The initiative “Silk Road Economic Belt” is not much “older”; however, in seven years of its existence became the core of the economic and foreign policy vector of the People's Republic of China. Considering the experience of its evolution, the establishment of the Greater Eurasian Partnership should start with the conduct of international conferences that discuss the target points and mechanisms of implementation of the proposed initiative. For bringing such idea to life, it is necessary to create a financial platform and attract investors. It seems reasonable to develop the strategy for the formation of the Greater Eurasian Partnership around the objective towards strengthening the Eurasian Economic Union as the foundation for the future integration association.