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China – Russia flourishing trade, a trouble situation for US.

President Vladimir Putin and vice president of China Wang Qishan after a meetup at the St. Petersburg on the 22 international Economic Forum decided to further boost up the trade between the countries. A positive momentum has been built between by the two countries since the isolation of Russia amid the sanctions followed by the annexation of Crimea in 2014.

The amount of the trade between these countries was just $ 15.8 billion in 2003 which has increased to $ 95.3 billion in 2017, which is further  expected to increase to $100 billion  in 2018, roughly 12%-13% Russian exports. Both countries are forcing to enhance the usage of their own currencies instead of the dollar in the trade that is imposing a threat to US economy and can lead risks towards the recession of the US economy around the corner of 2020. President Donald Trump already created problems for Chinese economy by imposing  an additional hundred billion dollar in trade tariffs, The ministry of commerce of  China stated clearly that they are ready to fight back against any Trump’s tariffs.

The two neighboring countries are keenly doing trade in creating strategic projects in aerospace, nuclear energy and cooperating in agriculture, cross-border electricity, finance, science, and technology. The Yamal liquefied natural gas (LNG) is also expected to be launched in 2018 and the transportation of the gas to be started in 2019, through Skovorodino-Daqing oil pipeline.

Another agreement that has been signed in the last week that is China and Russia led the Eurasia Economic Union (EAEU). It would be opening the new passages for the cooperation and among the two states, such as Northern sea route and Moscow-Kazan speed railway. Shanghai Cooperation Organization (SCO) and BRICS are also a good corridor of friendship and fruitful for the development and trade.

The vice president of China said that Chinese president Xi Jinping is looking forward to holding another meeting with the Russian President  Vladimir Putin for the future bilateral relationship at the Shanghai Cooperation Organization (SCO), which is scheduled in the June of this year in Qingdao, China.

  • Russia-China
  • Vladimir Putin
  • Xi Jinping