The ancient trade in silk, spices and slaves between China and Europe turned central Asian oases into wealthy business hubs. Now, with China seeking to rebuild the Silk Road as its signature foreign policy initiative, countries across post-Soviet central Asia, the Caucasus and beyond are hoping China’s westward expansion will once again bring them riches.
The investments “will revitalise economic activity and trade in this part of the world”, says Erlan Idrissov, foreign minister of Kazakhstan.
They are much needed. With falling commodity prices and recession in Russia, growth in central Asia and the Caucasus is set to fall to a two-decade low this year, according to the International Monetary Fund.
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