Offbeat: China -Russia: a stronger economy relationship but which remains imperfect

U.S., China Advance Discussions On Pact To Accelerate Cancer Drug Trials

Health experts spoke after a summit between U.S. President Joe Biden and China President Xi Jinping in November in which the two sought areas for improvement in a relationship strained by geopolitics and other differences. Jingquan Bi, Executive Vice Chairman of China Center for International Economic Exchanges and a former commissioner of China Food and Drug Administration, expressed hope at the gathering held on Dec. 2 that the U.S. could help remove obstacles over a confidentiality agreement to pave the way for China’s participation in joining Project Orbis.

© via Reuters - Sputnik Russian President Vladimir Putin talks with Chinese President Xi Jinping before a wider meeting of the leaders of the Member States of the summit of The Shanghai Cooperation Organization (OCS) in Samarkand, Uzbekistan, September 16, 2022.

China has displayed a neutrality of facade since the start of the war launched in Ukraine by its partner Russia. Officially, between the two neighbors, a "boundary friendship" prevails, based among others on an opposition common to the standards of Western democracies. While Moscow is harshly struck by Western sanctions, cooperation will be strengthened, according to the words this Sunday, December 25 of the Chinese Minister of Foreign Affairs, Wang Yi.

U.S. and China trade barbs over South China Sea

MANILA (Reuters) - China's embassy in Manila accused the United States on Tuesday of driving a wedge between the Philippines and Beijing, deploring Washington's "unfounded accusations" that it said sought to stir up trouble in the South China Sea. The South China Sea has become one of many flashpoints in the testy relationship between China and the United States, with Washington rejecting what it calls unlawful territorial claims by Beijing in the resource-rich waters. Beijing was reacting to a Dec. 19 statement by U.S.

As for economic exchanges, it is clear that they have increased well since the start of the war. Bilateral trade between China and Russia has even reached a record level: $ 172 billion. This is a jump of 32% in one year, according to Chinese customs data. While the historic client, Europe, has closed its doors to Russian hydrocarbons, the pivot to Asia is accelerating.

China increased its oil imports by 60% in 2022, making Russia its second supplier. Minerals, agricultural products also flock more, without forgetting the gas whose flows are called upon to increase. Everything is paid in Yuan and rubles via alternative financial systems so as not to violate the sanctions against Russia.

China cannot turn its back on Westerners

China supports its partner , but it cannot turn its back on Westerners: the United States and Europe remain by far the first markets for Beijing.

From the point of view of Russia, many experts affirm it, the departure of Western companies with their investments and their technology cannot be filled by China. In particular, in the energy field, vital for the Russian economy.

On the other hand, the position of dependence of Russia offers Beijing the possibility of asserting its grip on its neighbor.

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