China announced that Russia is their most favored trading partner. Russia has increased its imports from China over the past two decades according to the MSN.
Their share of the total value of Russia’s imports coming from China is around 24 percent. At the beginning of the millennium, Russia still obtained most of its imports from Germany (13.8 percent).
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From today’s perspective, the intensification of trade with China seems to be an element of long-term geopolitical planning – at least in the recent past, probably also in order to be less vulnerable to sanctions from the West in the event of a war. Only a few weeks ago, Russia’s head of state Putin agreed on new investment projects and trade deals with Chinese President Xi Jinping on the sidelines of the opening ceremony at the Winter Games in Beijing. According to GTAI, a roadmap envisages increasing the bilateral trade volume to $200 billion by 2024. In 2021, the joint exchange of goods had reached a record $140.7 billion, according to Russian customs statistics.
This is despite the war in Ukraine.
Russia and China are looking to an Asian-African Alliance that could dwarf the West. As the West kills SWIFT in their minds, they will move on in a different direction.
Democrats pushed the Russians into China’s waiting arms a lot faster than it would have happened.
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