Tuesday, April 21, 2015

Europe-Asia link megaproject will reshape world economic map, experts tell RT — RT Business

A new link between Asia and Europe through Russia will create millions of new jobs and slash travel time between the two by three-quarters. It’s expected to change the world economic map and bring Russia-Asia economic ties to a new level.

The 'Razvitie' Trans-Eurasian Belt is a multibillion dollar infrastructure megaproject, led by Russian Railways (RZD). It is expected to create at least 20 million new jobs in Russia over the next two decades. The plan has been in the works for many years, and the economic crisis is the best time to move from words to action, according to Ruslan Grinberg, the head of the Economic institute of the Russian Academy of Science who spoke to RT at the Dialogi economic discussion club in Moscow.

“Crisis is always the appropriate time to realize megaprojects. Economist John Maynard Keynesinstructed that you if you don’t have demand you should construct Egyptian pyramids in Britain, so that people went to work, earned money. While they are not needed there, we do need them, as they create jobs and a fantastic multiplier effect. One unit of money invested creates at least 1.5 units,” Grinberg said.

The 'Razvitie' project includes a number of transport corridors, as well as a huge infrastructure system, pipelines and telecom networks running along the route.

“The project should include railways, motorways and other transport methods, meaning aviation, river transport and all other means that should represent one system creating synergy,” Iwao Ohashi, advisor at the Association of Industrial Parks for Japan and Asia-Pacific countries told RT.

Complete story at - Europe-Asia link megaproject will reshape world economic map, experts tell RT — RT Business


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