China has no port of its own on the Sea of Japan, and Russia could use this to its advantage. But for Russia to attract Chinese cargo, it is essential to simplify customs controls and seriously invest in roads and ports. Considering that both of these factors are Russia’s responsibility, the completion of the Primorye transport corridors has been stalled for a long time.
The Kremlin is still anxious about the expansion of Chinese influence in Central Asia, which is why it has turned the Shanghai Cooperation Organization, set up in order to work out widely accepted rules of the game for Eurasia, into a useless bureaucracy. Now, Beijing can develop relations with other SCO members without worrying about what Moscow thinks.
Whether regulators can succeed in reining in credit creation this time is ultimately a political question, and depends on the central government’s ability to force through necessary reforms.
India’s prolonged quest to join the Shanghai Cooperation Organization brings into sharp relief an enduring tension between competing geopolitical ideas.
As China's role in the world, so too does its place in both participating in and defining global governance. It has taken a more assertive role in this arena through its Belt and Road Initiative but some Western nations are wary of China's expanding influence.
The recent Belt and Road Forum for International Cooperation that took place in Beijing is China’s claim to a more prominent role in determining the rules of the game on a global stage. But in the unpredictable world of Chinese politics, the forum was as much about President Xi Jinping’s standing and an attempt to curtail speculation that he is not in total control.
It will take years for Russia to increase trade with China. To do so, Russia will need to strengthen its institutions, overcome non-tariff barriers to the Chinese market, and enhance its reputation among Chinese investors.
Chinese companies investing in Europe are largely driving the Belt and Road Initiative, but cultural differences could impede their success.
With the One Belt, One Road (OBOR) Initiative signaling China’s more activist, assertive regional economic development and security policies, the United States must develop a post-TPP strategy to engage with China and the Asia-Pacific region.