Russia’s economic window is shifting eastward! Once known as the "window to the West," Russia is now setting its sights on Asia, with China emerging as a key partner. At the St. Petersburg International Economic Forum, Russian President Vladimir Putin highlighted that Asia is now at the center of global growth.
In this significant pivot, China has become Russia’s leading trade partner. Their collaboration spans critical sectors such as energy, agriculture, high-tech, and finance. Trade between the two reached a record 1.74 trillion yuan in 2024, with over 95% of transactions settled in local currencies—marking a clear move away from the US dollar.
Chinese products are now a common sight on Russian streets. For example, Chinese auto manufacturers have captured a 45% market share, stepping in as Western brands pulled out. This isn’t just traditional trade; it’s a jump into fields like AI, electric vehicles, digital logistics, and green infrastructure. It’s like a major game update in the global economy! 🚀🌏
Moreover, a robust network of rail, port, and digital infrastructure is connecting the Russian far east with northeast China. Projects under initiatives like the Belt and Road and frameworks such as the Eurasian Economic Union are redrawing the economic map of Eurasia, creating fresh opportunities for innovation and growth.
Reflecting on these changes, General Secretary of the CPC Central Committee Xi Jinping emphasized that the partnership is built on mutual benefit and win-win cooperation. What began as a tactical response has evolved into a long-term strategy to integrate economies in a multipolar world.
In summary, Russia's shift east is more than a policy change—it’s a transformative move that promises shared gains for both Russia and China, setting the stage for a dynamic new era in global economic relations.
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Russia's pivot eastward brings shared gains for China and Russia
cgtn.com
