Prospects for the development of trade relations between Russia and China in a changing geopolitical environment

Jovičić, Elena and Ljumović, Isidora (2022) Prospects for the development of trade relations between Russia and China in a changing geopolitical environment. In: Международный экономический симпозиум-2022. Материалы международных научных конференций 17–19 марта 2022 г. : Международная научно-практическая конференця «Устойчивое развитие: общество и экономика», XIX Международная конференция «Эволюция международной т. Скифия-принт, Sankt Peterburg, pp. 710-715. ISBN 978-5-00197-054-5

Text jovicic, ljumovic.pdf - Published Version Restricted to Repository staff only Available under License Creative Commons Attribution Non-commercial No Derivatives. Download (338kB) | Request a copy

Abstract

The paper examines the current issues of trade cooperation between Russia and China. Particular attention is paid to the dynamics and structure of foreign trade of both countries in a changing global environment — the sanctions policy of Western countries, the implementation of the "Belt and Road" initiative, China's adoption of a new strategy of "double circulation". It is revealed that despite the positive dynamics of trade relations there is a significant imbalance in the structure of foreign trade, which is characterized by the fact that Russia supplies fuel and energy resources to China, while the main share of China's import is made up of products with high added value. In the long term, the imbalance of economic potential could have a negative impact on bilateral trade and economic relations between Russia and China. In this regard, it is necessary to adjust the current model of the Russian economy and develop a new strategy for cooperation, which would allow to overcome the technological lag in the development of major industries. Keywords: Russia, China; bilateral trade relations; export; import; "double circulation".

Actions (login required)

View Item