During the ceremony in Moscow, on the occasion of the 80th anniversary of the victory over the Nazi Germany XI and Putin, they managed – as the Chinese leader said – “eternal friendship” to prove that the idea of US President Donald Trump to break their alliance is missed. Putin emphasized that the partnership of both countries is based “on unmoved principles of equality.” But in fact, Moscow has never been as dependent on Beijing as now, in this relationship she is a “younger partner” – notes the British weekly.
XI and Putin perceive a mutual relationship like “brotherhood of weapons” aimed at US dominance, and since Trump took office again, “they coordinate their policy.” In practice, however, this is a very uneven relationship, which can be seen, among others After trade – explains “Economist”.
In 2024, 34 percent went to China Russian exports, while Russia is only responsible for 4 percent. foreign sales of China. “Western sanctions have meant that Russia has a few alternative buyers for its raw materials and no alternative supplier of imported goods it needed,” emphasizes the weekly.
Beijing does not treat Russia seriously
Beijing has colossal pressure on Moscow, so she dictates – for example – very low prices for oil and gas, and also intends to diversify the supply of raw materials.
Sanctions also forced Russia to look for alternatives to the dollar and in 2023. Chinese Juan became the most popular currency recorded on the Moscow stock exchange, as well as the currency of most Chinese-Russian trade. Last year, the Central Bank of Russia admitted that there is no alternative currency in which he could accumulate its reserves; And this means that Russia would be exposed to serious losses if its relations with China worsened – explains the weekly.
Beijing, however, does not treat his “younger partner” seriously enough to undertake significant investments in Russia, he is not interested in modernizing the local economy and does not want to help the Russians in its diversification.
On the other hand, China keeps a “diplomatic distance” towards a neighbor, which can be seen, among others After abstaining in the UN or treatments for improving relations with the European Union. And admittedly XI wants Putin to stay in power, and the Russian economy would not break down, but at the same time does not want the Kremlin to get into another military adventures ” – says” Economist “.
Putin could look for a rapprochement with Trump and strive to repair relations from the USA to partly become independent of Beijing, but – according to Sergei Radczenka from Johns Hopkins University – “China wants to stop Russia where he is now.”
“Putin's war and the scale of Chinese influence make an unbelievable back to Russia towards the West,” concludes “Economist”.
