TRANSPORTATION CORRIDORS «CHINA-EUROPE EXPRESS» IN THE CONDITIONS OF DEVELOPMENT OF INTERNATIONAL ECONOMIC RELATIONS
AbstractIn the article the author examines the current state, including the problems of the development of international transport corridors running from China to the countries of the European region. The proposal and development of the Belt and Road Cooperation Initiative by the Sino-European Railway Express has played a pivotal role in promoting trade of China and Europe and the countries along the route. The author shows the features of the development of economic relations after the new coronavirus epidemic in 2020.
To stimulate the rapid economic recovery of the countries along the route, the PRC came up with a new concept of dual domestic and international cycles, and the China-Europe Express became an important transport link connecting China, Central Asia, Central and North Asia and Europe. The author of the article notes that the initiative from the Chinese side has become an important engine of global economic growth, taking advantage of the " One Belt - One Road " policy.
However, excessive operating costs, asymmetric market information, underdeveloped infrastructure along the route, and heavy reliance on government subsidies limit the sustainable development of China-Europe railway transit routes. In the context of international economic relations, this article analyzes the many challenges facing China-Europe Railway Express, and the author proposes appropriate solutions and proposals to prove the prospects for the development of the above-named project.
Key words: International trade; China-Europe Express; world economy; dual circulation strategy; Chang’an train; One Belt – One Road project; countermeasures; infrastructure, government subsidies.