Trend Eurasian regionalism underpinned post-Soviet stability and growth

Summary

After the Soviet collapse the newly independent Eurasian states had to cope with geopolitical upheaval, broken links and the need to modernize and diversify their economies. The report explains that most lacked the power, resources and experience to face external threats alone, so moves to restore old connections and integrate regionally gained strong support, as their economies had been tied together in Soviet supply chains. Five forces are credited with the region's relative success: broadly peaceful conditions under Russia's security umbrella until 2022, stable political regimes in leading states, growth from global integration aided by Russia and China, Sino-Russian compromise in areas of overlapping interest and multi-vector policies toward third partners. Bodies such as CAREC, the Eurasian Economic Union launched in 2015, the CIS, the SCO, the CSTO and CICA emerged from this process and, contrary to sceptical forecasts, grew in weight over time. By using Russia as the traditional leader, China as the new one and Korea, Japan, Turkey and Europe as a third vector, these states created a new growth space in the global economy.