Newsweek: Russian Elites Are Worried About Putin's Relations With China
- 7.01.2024, 13:11
The head of the Kremlin drove the country into vassalage on the neighbour.
Russian President Vladimir Putin likes to talk about the fact that he allegedly achieved "true sovereignty" by the war against Ukraine.
Quite the opposite, his policy has driven the country into critical dependence on China.
This is stated in an article by the influential publication Newsweek.
The authorities and propaganda of the Russian Federation sing odes to strengthening economic ties with China. Indeed, trade between the two countries reached a record $218 billion in 2023.
Russia drives the Chinese to cheap energy resources and agricultural products, and in return gets access to technologies from which it was previously cut off by sanctions.
However, can this be considered good news for the Russian Federation?
Far from the fact. Russia has turned out to be critically dependent on Beijing in some very important areas.
Economists warn that the West, not Russia, is a much more important market for China. And if the Chinese have to make a choice, Moscow will end up with nothing.
"While China provides almost a third of Russia's trade, Russia's share in China's trade turnover – 5.1 percent in imports and 3.3 percent in exports," the article reads.
If the West gives Beijing an ultimatum to comply with the sanctions, then, experts say, the Chinese will not take risks for the sake of Russia.
"The increase in turnover [between China and the Russian Federation - Ed.] has helped save the Russian economy in the face of sanctions but many officials and business leaders in Russia are concerned that the arrangement favours China far more than it does Russia. While China is eagerly buying energy and materials and selling Chinese-made goods to the Russia market, all of which suits Beijing, there is very little investment coming into Russia, certainly nothing like enough to replace the lost investment from exiting Western companies and investors,” the article reads.