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Russia and China partnership faces questions of economic equality

China is Russia’s largest trading partner, while Russia makes up about 4.0% of China’s foreign trade, raising doubts about whether the relationship is truly equal.

Reported · Written up by our desk · Trade & Tariffs

China and Russia are not formal allies, but their ties have tightened in recent years, including a partnership framed as “comprehensive strategic partners of coordination for a new era” since 2019, according to SCMP Economy. Kremlin spokesman Dmitry Peskov, speaking on July 14, said the Russian-Chinese partnership is based on the principle of equality. The article highlights a potential imbalance, noting that China is Russia’s largest trading partner while Russia accounts for about 4.0% of China’s foreign trade, which complicates claims of an equal relationship. Before the Ukraine crisis, the European Union was Russia’s most significant economic partner. In 2013, EU member states accounted for about 57.0% of Russian exports and 46.5% of Russian imports, and Russia supplied natural gas to Europe, including Germany, helped in part by the Nord Stream pipelines. That dynamic shifted after 2014, when events including the removal of Viktor Yanukovych, Russia’s annexation of Crimea, and fighting in the Donbas led the EU to impose sanctions on Moscow. SCMP Economy reports that with a return to business as usual with Europe unlikely, Russian strategic planners looked for alternative gas export markets, with China identified as a leading option.

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