There is huge potential for development in infrastructure, in spite of some formidable bottlenecks. "A unified and homogeneous common power market stretching from Lisbon to Hanoi via Vladivostok is not necessary, because electric power markets do not function in that way. But the creation of infrastructure that could support a number of regional and sub-regional common markets would do much for the economic development of Greater Eurasia." (Russian newspaper, Izvestia, 2011)
Keep in mind, the article was written back in 2011 long before Xi had even conjured up his grand pan-Asia infrastructure scheme. Putin was already a committed capitalist looking for ways to put the Soviet era behind him and skillfully use the markets to build his nation's power and prosperity. Regrettably, he has been blocked at every turn. Washington does not want others to effectively use the markets. Washington wants to threaten, bully, sanction and harass its competitors so that outcomes can be controlled and more of the world's wealth can be skimmed off the top by the noncompetitive, monopolistic corporate behemoths that diktat foreign policy to their political underlings (in congress and the White House) and who see rivals as blood enemies that must be ground into dust.
Is it any wonder why Russia and China have emerged as Washington's biggest enemies? It has nothing to do with the fictitious claims of election meddling or so-called "hostile behavior" in the South China Sea. That's nonsense. Washington is terrified that the Russo-Chinese economic integration plan will replace the US-dominated "liberal" world order, that cutting edge infrastructure will create an Asia-Europe super-continent that no longer trades in dollars or recirculates profits into US debt instruments. They are afraid that an expansive free trade zone that extends from Lisbon to Vladivostok will inevitably lead to new institutions for lending, oversight and governance. They are afraid that a revamped 21st century capitalism will result in more ferocious competition for their clunker corporations, less opportunity for unilateralism and meddling, and a rules-based system where the playing field is painstakingly kept level. That's what scares Washington.
The Belt and Road Initiative and the Eurasian Economic Union represent the changing of the guard. The US-backed 'neo-liberal' model of globalisation is being rejected everywhere, from the streets of Paris, to Brexit, to the rise of right wings groups across Europe, to the unexpected election of Donald Trump in 2016. The Russo-Chinese model is built on a more solid, and less extractive, foundation.
This new vision anticipates an interconnected multipolar world where the rules governing commerce are decided by the participants, where the rights of every state are respected equally, and where the new guarantors for regional security scrupulously keep the peace. It is this vision of 'revitalized capitalism' that Washington sees as its mortal enemy.
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