The paper analyses how the Chinese project of establishing the Economic Belt
of the New Silk Road challenges newly formed Eurasian Economic Union, with
Russia as the leading force, as well as the North-American and Pacific trade
network, dominated by the U.S. The author discusses how the overlapping
responsibilities and influence of these regional economic groups may affect
their complementarities and competitiveness on the world market, and how they
may impact the future course of international relations. The Economic Belt is
aimed at creating and strengthening economic, transport, human and cultural
relations between China and Central Asian countries, but without Russia. The
New Silk Road would stretch from the Pacific to the Baltic Sea, encompassing
land and sea trading routes, and follows the route of the ancient Silk Road.
When the New Silk Road project, linking three continents, is completed, it
will bring new chance for development for China as well as for all other
countries on the New Silk Road, including those in the Southeastern Europe.
The author concludes that the Economic Belt of the New Silk Road might relax
conflicts and quarrels between Western and Far East countries in regard to
their aspirations to dominate in Euroasia.