Belt and Road Transport Corridors: Barriers and Investments

The report presents an analysis of the impact that international freight traffic barriers have on logistics, transit potential, and development of transport corridors traversing EAEU member states. Restrictions discussed in this report include infrastructural (transport and logistical infrastructure), border/customs-related, and administrative/legal barriers. The authors also provide the recommendations regarding removal of barriers that hamper international freight traffic along the China-EAEU-EU axis

Евразийский экономический союз

The monograph serves as a full-fledged introduction to the Eurasian Economic Union (EAEU) — its institutions, legal foundation, evolution, and, above all, economic integration issues. The authors focus on the common markets for goods, services, capital, and labour, as well as the EAEU foreign economic policies. They strive to provide a balanced analysis using a variety of approaches. In 300 pages of text, augmented by 50 tables and figures, the authors not only present a plethora of facts on economics and politics of the Union, but also attempt to explain why Eurasian integration processes are evolving in this particular way. Furthermore, they indicate the tasks and problems that the Union may have to deal with over the next 10 years

Silk Road Transport Corridors: Assessment of Trans-EAEU Freight Traffic Growth Potential

This report, prepared with the participation of experts from the Institute of the Economy and Transport Development, presents the results of quantitative assessment of freight traffic growth prospects along the China–EAEU–EU axis. The report provides a description of general trends affecting development of freight transport subject to commodity structure and mode of transport. Special attention is paid to factors driving changes in freight traffic. The authors present their view of the impact that freight rates have on the metrics of freight traffic being rechannelled to EAEU transport infrastructure and the operation of certain factors, such as regularity (rhythmicity) and timeframes of cargo deliveries. The final part of the report offers an assessment of additional freight traffic which may be attracted to transport routes along the China–EAEU–EU axis, in the short and long term

Belt and Road Transport Corridors: Barriers and Investments

The report presents an analysis of the impact that international freight traffic barriers have on logistics, transit potential, and development of transport corridors traversing EAEU member states. Restrictions discussed in this report include infrastructural (transport and logistical infrastructure), border/customs-related, and administrative/legal barriers. The authors also provide the recommendations regarding removal of barriers that hamper international freight traffic along the China-EAEU-EU axis

New approaches to international reserves: The lack of credibility in reserve currencies

The ongoing international reserve paradigm based on trust will experience a major transformation despite being convenient, flexible and low-cost. The underlying issue is a loss of trust. Due to the massive financial sanctions imposed on Russia and other states, traditional reserve currencies have lost their footing, compromising confidence in international reserves. Consequently, countries will need a comprehensive revision of their reserve asset management options. This paper overviews these options, which range from trade-offs to non-orthodox solutions. In total, we list twelve options, which can be categorized into three groups according to their novelty and “degree of orthodoxy­.” The first group implies countries can expand the use of available instruments, i.e., investments in gold, renminbi, and currencies of friendly countries, and enlarge the network of swap lines and the toolbox of sovereign wealth funds. In the second group, options call for the introduction of new mechanisms for international reserves functions, such as accumulating physical resources and private cryptocurrencies­, issuing stablecoins by central banks, and building up assets of regional financing arrangements. The third group includes options to shift the energy standard (currency) paradigm and establish a synthetic international currency or form a macroeconomic paradigm with no international reserves. Furthermore, applying our analysis, we move beyond Russia and look at the issue from the perspective of the Shanghai Cooperation Organization members and observers, as it is a leading platform where countries openly discuss this matter

New approaches to international reserves: The lack of credibility in reserve currencies

The ongoing international reserve paradigm based on trust will experience a major transformation despite being convenient, flexible and low-cost. The underlying issue is a loss of trust. Due to the massive financial sanctions imposed on Russia and other states, traditional reserve currencies have lost their footing, compromising confidence in international reserves. Consequently, countries will need a comprehensive revision of their reserve asset management options. This paper overviews these options, which range from trade-offs to non-orthodox solutions. In total, we list twelve options, which can be categorized into three groups according to their novelty and “degree of orthodoxy­.” The first group implies countries can expand the use of available instruments, i.e., investments in gold, renminbi, and currencies of friendly countries, and enlarge the network of swap lines and the toolbox of sovereign wealth funds. In the second group, options call for the introduction of new mechanisms for international reserves functions, such as accumulating physical resources and private cryptocurrencies­, issuing stablecoins by central banks, and building up assets of regional financing arrangements. The third group includes options to shift the energy standard (currency) paradigm and establish a synthetic international currency or form a macroeconomic paradigm with no international reserves. Furthermore, applying our analysis, we move beyond Russia and look at the issue from the perspective of the Shanghai Cooperation Organization members and observers, as it is a leading platform where countries openly discuss this matter