Richard Pomfret
- Published in print:
- 2019
- Published Online:
- May 2019
- ISBN:
- 9780691182216
- eISBN:
- 9780691185408
- Item type:
- book
- Publisher:
- Princeton University Press
- DOI:
- 10.23943/princeton/9780691182216.001.0001
- Subject:
- Business and Management, International Business
This book analyzes the Central Asian economies of Kazakhstan, the Kyrgyz Republic, Tajikistan, Turkmenistan, and Uzbekistan, from their buffeting by the commodity boom of the early 2000s to its ...
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This book analyzes the Central Asian economies of Kazakhstan, the Kyrgyz Republic, Tajikistan, Turkmenistan, and Uzbekistan, from their buffeting by the commodity boom of the early 2000s to its collapse in 2014. The book examines the countries' relations with external powers and the possibilities for development offered by infrastructure projects as well as rail links between China and Europe. The transition of these nations from centrally planned to market-based economic systems was essentially complete by the early 2000s, when the region experienced a massive increase in world prices for energy and mineral exports. This raised incomes in the main oil and gas exporters, Kazakhstan and Turkmenistan; brought more benefits to the most populous country, Uzbekistan; and left the poorest countries, the Kyrgyz Republic and Tajikistan, dependent on remittances from migrant workers in oil-rich Russia and Kazakhstan. The book considers the enhanced role of the Central Asian nations in the global economy and their varied ties to China, the European Union, Russia, and the United States. With improved infrastructure and connectivity between China and Europe (reflected in regular rail freight services since 2011 and China's announcement of its Belt and Road Initiative in 2013), relaxation of UN sanctions against Iran in 2016, and the change in Uzbekistan's presidency in late 2016, a window of opportunity appears to have opened for Central Asian countries to achieve more sustainable economic futures.Less
This book analyzes the Central Asian economies of Kazakhstan, the Kyrgyz Republic, Tajikistan, Turkmenistan, and Uzbekistan, from their buffeting by the commodity boom of the early 2000s to its collapse in 2014. The book examines the countries' relations with external powers and the possibilities for development offered by infrastructure projects as well as rail links between China and Europe. The transition of these nations from centrally planned to market-based economic systems was essentially complete by the early 2000s, when the region experienced a massive increase in world prices for energy and mineral exports. This raised incomes in the main oil and gas exporters, Kazakhstan and Turkmenistan; brought more benefits to the most populous country, Uzbekistan; and left the poorest countries, the Kyrgyz Republic and Tajikistan, dependent on remittances from migrant workers in oil-rich Russia and Kazakhstan. The book considers the enhanced role of the Central Asian nations in the global economy and their varied ties to China, the European Union, Russia, and the United States. With improved infrastructure and connectivity between China and Europe (reflected in regular rail freight services since 2011 and China's announcement of its Belt and Road Initiative in 2013), relaxation of UN sanctions against Iran in 2016, and the change in Uzbekistan's presidency in late 2016, a window of opportunity appears to have opened for Central Asian countries to achieve more sustainable economic futures.
Nazgul Jenish
- Published in print:
- 2015
- Published Online:
- March 2016
- ISBN:
- 9781479844333
- eISBN:
- 9781479809448
- Item type:
- chapter
- Publisher:
- NYU Press
- DOI:
- 10.18574/nyu/9781479844333.003.0002
- Subject:
- Political Science, Comparative Politics
This chapter examines recent developments in the socioeconomic situation in the five Central Asian states of the former Soviet Union, with a particular focus on the relations of these countries with ...
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This chapter examines recent developments in the socioeconomic situation in the five Central Asian states of the former Soviet Union, with a particular focus on the relations of these countries with China. Over the last decade, the Central Asian countries have seized geo-economic opportunities presented by their proximity to China, drastically expanding their trade with the country. However, the remarkable growth of the Central Asian economies has largely been driven by the surging global demand and price of commodities. Central Asian exports are dominated by few primary commodities, and their industries show little sign of diversification and sophistication. Thus, the highly skewed structure of the Central Asian economies makes them vulnerable to volatility in the commodity markets and may hinder their future economic development.Less
This chapter examines recent developments in the socioeconomic situation in the five Central Asian states of the former Soviet Union, with a particular focus on the relations of these countries with China. Over the last decade, the Central Asian countries have seized geo-economic opportunities presented by their proximity to China, drastically expanding their trade with the country. However, the remarkable growth of the Central Asian economies has largely been driven by the surging global demand and price of commodities. Central Asian exports are dominated by few primary commodities, and their industries show little sign of diversification and sophistication. Thus, the highly skewed structure of the Central Asian economies makes them vulnerable to volatility in the commodity markets and may hinder their future economic development.
