The Silk Road Economic Belt is a strategy created by China and Russia to connect their countries via the Caspian Sea, Iran, Kazakhstan, and Georgia. The Caspian Sea is one of the world’s largest oceans and provides shipping routes for millions of tons of cargo. It also provides vital sea-side locations for oil exploration and provides a wealth of natural resources for development. These benefits have made the Caspian Sea one of the top trade corridors in the world. The United States, European Union, Japan, and a few other nations have become involved in trade with the region.
In the past, these nations relied largely on Russian supplies and infrastructure. However, with the increasing sophistication of Middle Eastern technology, they are now looking to develop their own industries. This has caused the sharing of infrastructure between the countries. Recently, the Chinese developed a port in Iran to help support their development. The Russians are opening an oil refinery in the oil-producing province ofzhanaozen in China. India is sharing its oil fields in Pakistan with Pakistan.
Each country has its own objectives. For example, China wants to develop closer economic and political relations with the European Union. At the same time, Russia is focused on becoming a nuclear power. Both are interested in reaching out to the U.S., which is their biggest trading partner. At the same time, they want to be a player on the world stage.
The vision of the Silk Road Economic Belt is to increase global trade by reducing transnational barriers. It includes all of Central Asia, all of South Asia, all of Southeast Asia, as well as a small portion of South East Asia. It also includes Afghanistan and Tajikistan. These nations all belong to the Commonwealth of Nations.
The countries that make up the Silk Road Economic Belt will have bilateral trade agreements with the members. Multinational trade deals are expected to increase between these countries. These include: customs brokerages, transport, electricity, and mining. Some multi-country agreements are being negotiated now Silk Road economic belt.
The primary countries of the Silk Road Economic Belt are China, Kazakhstan, Iran, Pakistan, Russia, the Turkmenistan, and Uzbekistan. Following closely are India, Bangladesh, Kazakhstan, and the Philippines. India is trying hard to join the group of developing nations at the top of the trade podium. While it has not joined yet, it is moving in that direction.
The United States has a huge trade deficit with many of the nations in the region. It needs those nations to be close to its market in order to be a player in the international trade market. At the same time, it needs those nations to be close enough to promote its own interests in the region. The US is trying to find ways to work with these nations in order to improve the conditions for both its citizens and businesses in the area.
There are many challenges ahead for the nations in this region. With the growth of Islamic radicalism, which has spilled over into other nations, it is important for the United States and its allies to focus on combating this global threat. If China is going to continue rising as the premier economic power, it will have a major effect on the regional development. This is a difficult period for the region, but the nations involved can work together to make it through this bumpy road. The United States needs to stay a partner and work alongside these nations to promote economic prosperity and freedom. Only then will the Silk Road continue to serve as a successful trading route for the world.