The Impact of the «One Belt, One Road» Initiative on the Investment Climate of Kazakhstan

Abstract

The relevance of the research topic depends on the growing scientific interest in structural changes in the economy, politics, and diplomacy of modern China. They began in the late 1970s, and in 1982 the Chinese government developed the concept of a «New China» (hereinafter the Concept) in a multipolar world, in conditions of large-scale socio-economic transformations.

The position of modern China is based on the principle of peaceful coexistence with all countries. Today, according to the Concept, China confidently asserts world leadership thanks to the country's new foreign policy. Preserving the originality of traditional foreign policy, Chinese leaders skillfully established relations with all countries in the conditions of a new "multipolar world", consistently and steadfastly defending national interests.

Thanks to thoughtful socio-economic reforms, consistent foreign policy and «flexible» diplomacy, China today is one of the world's leading leaders, and its foreign policy experience is very important for studying and borrowing when carrying out structural changes.

At the end of the 20th century, the global financial system was experiencing the consequences of the global crisis. It was clear that the international community needed to find new ways of interaction and propose new mechanisms for global development. The world needs a different order that would meet all modern requirements. China took on the role of leader, offering in 2013 its vision of building the world economy through the implementation of China's «One Belt, One Road» initiative. An ambitious project that, if successfully implemented, will lead China to the role of a world leader.

The essence of the main geopolitical concept of the modern world order of the OBOR is the formation of new models of peaceful cooperation and development between peoples in conditions of global interdependence.

As part of the initiative, Chinese leaders proposed international cooperation in five main areas: political coordination, infrastructure connectivity, uninterrupted trade, free movement of capital and the formation of spiritual closeness between people. China's initiative is aimed at creating conditions for sustainable economic growth, as infrastructure development and access to new markets will create new jobs and additional demand for Chinese products on the world market. OBOR participants will receive significant investments, gain access to more developed markets and integrate more deeply into the global economy. In the process of promoting the initiative, Chinese diplomacy has achieved remarkable results, skillfully using various mechanisms and tools on various platforms and in various forms. During the period under review, China's unique experience in promoting its national interests aroused the broadest scientific and practical interest among researchers and implemented research topics.

The purpose of the study is to determine the role of OBOR in the rise of China and its impact on the economy of Kazakhstan.

In order to achieve this goal, it is necessary to investigate the mechanism and structure of investment policy, as well as Chinese diplomacy to promote OBOR.

The study of China's use of diplomatic tools, mechanisms and development models is also interesting for Kazakhstan in achieving its goals to protect its interests in international relations.

Keywords: Theory of international relations, East Asia and the Pacific conflict, security and defense, investment, political economy and economics.