Regional integration opportunities in the context of the Silk Road Economic Belt

This article discusses theoretical aspects of the regional integration concept in terms of functionalism, neofunctionalism, liberal intergovernmentalism. Functionalism emphasizes the special role of international agencies in the implementation of regional integration. The state transfers some of its authorities to the agencies. Neofunctionalists based on the ideas of their predecessors argue that the state is not the only one actor that influences integration. The social elite is also involved in this process. Liberal intergovernmentalism considers national interests and economic benefits as the basis for regional integration. Based on liberal intergovernmentalism concept on the primacy of economic benefits, an attempt is made in this article to understand potetntial of Chinese initiative, the Silk Road Economic Belt, for economic cooperation and integration between the participating countries. The Belt includes such principles as economic development through infrastructure investments, strengthening of China’s interdependence with the countries of the region, focusing on Asia in the frame of “neighborhood diplomacy”. Steady trade growth between the largest economic partners Europe and China provides favorable conditions for development of the Belt. The effect of this initiative on creation and distribution of trade flows would bring economic benefits for the participating countries, while refusal to participate can result in trade discrimination. It is proposed to consider the Belt as an integrating initiative with great economic potential for the region. In future, China’s position on the global market as megatrader will only increase.

экономический потенциал, региональная интеграция, торговый оборот, функционализм, неофункционализм, либеральный интерговернментализм, мегатрейдер, экономикалық әлеует, аймақтық интеграция, сауда айналымы, функционализм, неофункционализм, либералдық интерговернментализм, мегатрейдер, economic potential, regional integration, trading volume, functionalism, neofunctionalism, liberal intergovernmentalism, megatrader

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