The Central Asian Economies in the Twenty-First Century: Paving a New Silk Road

by Richard Pomfret

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. Richard Pomfret 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. Pomfret 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 United Nations 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.

Genres: Economics, Nonfiction

447 pages, Kindle Edition

Published January 15, 2019

Reviews

[Valijon Turakulov · Rating 5 out of 5]

Central Asia (CA) is located in the center of the largest continental area, Eurasia, on our planet. The region is ‘famous’ for not only its massive amount of natural resources but also its protectionist trade policy. Central Asia ‘-stan’ countries, namely, Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan, declared their independence in the same year, 1991. Since then, the countries chose diverse ways of transition from centrally planned to the market-based economic system.

Today, it is time to assess the result of those diverse ways. In this regard, the book of Professor Richard Pomfret narrates the story of the Central Asian economy backgrounding with historical and political information. The book includes accurate key dates, events, statistical numbers, facts, and insightful interpretations. Analysis toward each country shows a neutral stance as the author himself is from neither Central Asian country.

[Ivar Dale · Rating 5 out of 5]

All the incomprehensible stuff in one place!

[Erlan Daniel · Rating 4 out of 5]

Good Overview of Central Asian Economies. Holds up in 2025. Not too dense either