“China is ready to work with Russia to stay each other’s good neighbour, good friend and good partner,” says Chinese President Xi, sending out a message as Russian President Putin is in Beijing for a two-day visit amidst a fresh offensive in Ukraine. Putin just days into his fifth term returns the compliment and says that it is only logical that his first visit after his inauguration is to China, underscoring the importance he gives to the East Asian giant. Both nations are increasingly feeling the pinch of Western sanctions with the Biden administration in the U.S. imposing a new set of tariffs on China.
Ukraine crisis key discussion point
The two leaders discussed the conflict in Ukraine, with Putin thanking the Chinese President for his efforts to resolve the crisis, adding that both sides wanted a political crisis. China has maintained that it seeks restoration of peace and stability in Europe at the earliest in adherence to the principles of the United Nations Charter.
However according to the U.S. over 70% of machine tools and 90% of micro-electronics entering Russia. These micro-electronics are critical components of many of the smart munitions and cruise missiles used by Russia to attack Ukraine, without these it would be impossible for Russia to manufacture these critical weapons. As per the Carnegie Endowment, China gives Russia roughly $300 million worth of dual-use equipment every month.
United by communism, Economics the future
Russia and China’s bilateral trade has increased dramatically since the war began. The bilateral trade which stood at $147 billion in 2021, a year before the war grew to $240 billion in 2023. With over half of Russia’s oil exports last year ending up in China. China has filled the vacuum created by Western companies leaving Russia due to sanctions. China now provides Russia with cars, clothing, smartphones, etc.
Dhruv Yadav
