Russia China, this is how Beijing supports the economy of Moscow: it buys grain, gas, oil, companies

China is already Russia’s first trading partner

The economic and political ties between the two authoritarian regimes of Russia and China have always been very solid and due to the war unleashed by Russia against Ukraine they are further strengthening. In the last 20 years, despite a drop in the weight of trade on GDP passed in Russia from around 70% in 2000 to 46% in 2020, the relationship between the two countries has remained very close. Overall, China imported 79 billion dollars worth of goods from Russia in 2021 and for Moscow, Beijing represents 17% of all its exports. China is Russia’s top import supplier in high-tech goods such as cell phones, computers, telecommunications equipment. But it also tops the charts in more traditional industries such as toys, textiles and clothing. According to the most recent data, bilateral trade grew by 35.9% last year reaching a record figure of 146.9 billion dollars. The harshness of the sanctions imposed by the West on Russia in response to the attack unleashed on Ukraine new scenarios are now opening: in fact, China has the opportunity to further extend and deepen its partnership with Moscow then all sectors under embargo by Western countries, starting with energy, gas, and raw materials for which the Chinese giant is always hungry, up to high-tech and pharmaceutical products.

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About Alex Marcell

He likes dogs, pizza and popcorn. Already a fanboy of Nintendo and Sony, but today throws anything. He has collaborated on sites and magazines such as GameBlast, Nintendo World, Hero and Portal Pop, but today is dedicated exclusively to Spark Chronicles.

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