Navigating the Avenues of Economic Prosperity in Eurasia: The Madrid-Yiwu Train and the Pivotal Role of the Belt and Road Initiative
Year: 2024
Type: article
Abstract: The Belt and Road Initiative is of strategic importance to the economic development of Eurasia, which can effectively promote further cooperation among the participants and break down unnecessary barriers to trade and exchange. The year 2024 commemorates the milestone 10th anniversary of the inaugural journey of the Madrid-Yiwu Train, which stands as a pivotal element within the Belt and Road Initiative. This transcontinental railway holds immense importance for fostering economic prosperity and societal advancement in the nations traversed by its route. As a developing and emerging regional economic integration organization, the Eurasian Economic Union has achieved a series of achievements in the process of economic integration, but it also faces many challenges. The continuous improvement of the operation efficiency of the Madrid-Yiwu Train, it will further help the countries along the Belt and Road to optimize and integrate the rich natural resources more efficiently, realize the transformation and upgrading of industrial structure, and improve the industrial system within the alliance. This paper specifically analyzes the current situation and challenges of the Madrid-Yiwu Train and the Eurasian Economic Union, and puts forward relevant suggestions on how to further promote the Madrid-Yiwu Train connecting the Eurasian Economic Union to the development of regional economy, politically, economically and culturally.
Source: Science Innovation
Authors: Zhangshuai Pei, Wenjia Zhang
Institution: China Foreign Affairs University
Language: English
Topic: Belt and Road Initiative
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W4405009996