Xi Jinping and Putin Celebrate Record Trade Amid Deepening Friendship
- IndiaGlitz, [Wednesday,October 18 2023]
Xi Jinping celebrated record trade with Russia and underlined his bond with Vladimir Putin. The two presidents met in Beijing for a Belt and Road 10th anniversary forum. Annual commerce between China and Russia hit a record $200 billion, according to Xi.
Xi and Putin have met 42 times in the past decade, building a strong partnership and friendship. During this discussion, they did not discuss their no-limits partnership.
This meeting took place despite EU officials' concerns that China's unwillingness to denounce Russia's invasion of Ukraine was hurting its image. China and Russia agree on Israel-Gaza and distrust the US-led world order.
China's growing trade with Russia worries Western nations that it is indirectly backing the Ukraine war. President Putin commended China's Belt and Road Initiative, and bilateral commerce is expected to top $200 billion this year.
Russia is now a subordinate partner since China mitigated Western sanctions on its economy. Chinese enterprises substituted Western suppliers for critical components and bought more inexpensive Russian energy exports. Both nations may reduce their US dollar dealings.
Putin wants China to finish the Power of Siberia-2 gas pipeline agreement to shift gas exports eastward after the invasion reduced Europe's dependency on Russian energy. Xi didn't promise this in their Moscow summit.
Economic cooperation and common geopolitical goals have sustained this China-Russia friendship amid global geopolitical problems.
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