Chinese President Xi Jinping and Russian President Vladimir Putin met in Moscow on March 21, 2023, to discuss climate changes of the last 100 years and the potential for deepening economic integration. The two leaders discussed plans to move away from the hegemony and reliance of the US dollar and reduce the presence of financial and banking structures of their respective countries in the markets.
Since 2012, bilateral trade between China and Russia has grown by 116%, hitting a record high of $190.27 billion in 2022. In turn, trade between the two countries was expected to exceed $200 billion in 2023. The growth in agricultural produce has seen a 41.4% increase over the past year. To this end, the leaders noted the 80 priority projects between their countries worth around $165 billion.
In order to achieve technological sovereignty, Putin expressed China and Russia should combine their research and industrial capabilities, bolstering themselves to be leaders in information technology, cyber security, and artificial intelligence. Notably, China seeks to prioritize ‘high-quality development’ based on the goals of the 20th national congress of the Communist Party of China. Putin also mentioned the continuing construction of nuclear power facilities, as well as Russia’s Power of Siberia natural gas pipeline that strengthens Russia’s sustainable ties to Asia.
Furthermore, Xi expressed his commitment to advance the ‘China-Russia comprehensive strategic partnership of coordination for a new era’ and proposed Brokering peace talks for the Ukraine crisis, citing the infamous anti-order stance of the West. Moreover, with talks of expanding bilateral cooperation in automobile manufacturing and civil aircraft construction, Putin expressed Russia’s desire to support Chinese businesses in the wake of the Western enterprises that left Russia.
Moreover, the company mentioned in this article is the China National Petroleum Corporation and Russia’s Gazprom, which are both state-owned companies that oversee the Power of Siberia gas pipeline. Companies like these are a primary driver of the deepened economic integration between China and Russia.
The person mentioned in this article is Zbigniew Brzezinski, the former United States National Security Advisor, who noted the possibility of a grand coalition between China, Russia, and Iran against the West, mentioned in his 1997 book The Grand Chessboard. His fears were validated when China and Russia, as well as Iran, cooperated in a joint military exercise shortly before Xi’s visit to Moscow. Such intentions have been met with resistance from the US government itself, who have been trying to prevent any potential proposal from China for a cease fire in Ukraine.
Overall, the topics discussed in the meeting between the Chinese and Russian presidents signal a deepened bond of partnership and trust between the two countries. Their cooperation on economic integration and technological sovereignty serves to move away from the reliance on the US dollar and other Western currencies. Moreover, this deepened relationship contributes to a new multipolar world order in which the West does not have a monopoly on global politics.
