This is an AI translated post.
China and Russia's Close Alliance - A New Power Structure in the Changing International Order
- Writing language: Korean
- •
-
Base country: Japan
- •
- Others
0000-00-00 00:00:00
Select Language
Summarized by durumis AI
- On May 14, Chinese President Xi Jinping and Russian Prime Minister Mishustin held a meeting, emphasizing the development of their strategic partnership, particularly highlighting the 75th anniversary of diplomatic relations next year as a new starting point for continued and expanded cooperation.
- The two countries are strengthening economic cooperation by achieving the $200 billion trade target ahead of schedule and pushing forward over 80 joint projects. Notably, they are attempting to build an independent financial system by expanding settlements in yuan and rubles, moving away from the dollar-centric international financial order.
- The Sino-Russian cooperation to contain the US is interpreted as a pursuit of transforming the existing international order. However, with the prolongation of the Ukraine war and Western sanctions against Russia, future cooperative relations are expected to be challenging.
On May 14, Russian Prime Minister Mishustin, who visited Beijing, China, held a meeting with Chinese President Xi Jinping. This was a demonstration of both countries' willingness to further develop their strategic partnership, as next year marks the 75th anniversary of China-Russia diplomatic relations.
During the meeting, Xi emphasized the promotion of trade, stating that "we have already achieved the annual trade target of $200 billion set jointly with President Putin last month." This marks an earlier-than-expected achievement of the actual trade level between the two countries by a year. Xi further emphasized that "we must continue to expand the synergy brought about by our close political cooperation, taking next year's 75th anniversary of diplomatic relations as a new starting point."
Meanwhile, Prime Minister Mishustin explained that the scale of over 80 joint projects between the two countries amounts to approximately 32 trillion yen. He particularly emphasized that over 90% of these projects are settled in yuan and rubles, not dollars. This reveals their intention to establish a financial system of their own, breaking away from the dollar-centric international financial order.
Since Russia's invasion of Ukraine, China and Russia have been closely cooperating politically and economically, jointly responding to US pressure. This is interpreted as an attempt to transform the existing international order and create a new international power structure led by China.
While not traditional allies, both countries are pursuing a position of power, and their mutual interests align, according to assessments. However, the prolonged war in Ukraine and economic risks stemming from Western sanctions against Russia suggest that future cooperative relations will not be smooth sailing.
