Revival of economic belt of the Silk Road

Abstract

The biggest producers and investors in the global economy is China, which, despite a slight decline, maintain high rates of economic development in comparison with other countries of the world. Accordingly, great interest is the new Chinese initiative aimed at the revival of the Silk Road in modern conditions. This initiative opens the new opportunities and prospects for trade and economic and investment cooperation between countries along the Silk Road, including Kazakhstan. Moreover, for the practical implementation of the initiative, China creates new development financial institutions such as Asian Infrastructure Investment Bank and the Fund of the Silk Road, the capital of which will be spent on infrastructure projects. New initiatives might be historically unprecedented opportunity for the Central Asian republics to become important players in the global economy. In addition, many states located in the path of the ancient Silk Road, in particular, the landlocked countries of Central Asia, international trade corridors are one of the key incentives for economic growth and development.
Key words: Silk Road, economic development, investment, economic growth, international trade, logistics.