China cosies up with Russia as trade rivalry with US erupts

Chinese President Xi Jinping will meet Russian President Vladimir Putin during the St Petersburg International Economic Summit next month. This will be their second meeting in two months, following talks at the Belt and Road Forum in Beijing in April, which resulted in Mr Pution offering to support China’s plans to boost infrastructure and trade in Africa, Asia and Europe. This time, the pair are likely to discuss plans for Venezuela, North Korea, nuclear weapons and arms control, as well as the US.

Artyom Lukin, an associate professor at Far Eastern Federal University in Vladivostok said: “This time it is very likely that the latest anti-China moves by the US, such as new tariffs and the Huawei ban, will feature prominently in their conversations.”

But Mr Jinping may struggle to use Russia as a backup place for foreign markets, as Russia’s economy is struggling due to sanctions being imposed by the West.

But Mr Lukin said Mr Putin will still “provide political and moral support to Xi”.

Referencing the sanctions imposed after Russia’s annexation of Crimea in 2014, he said: “That is also significant as Russia has been withstanding intense US-led sanctions pressure for more than five years already.”

Talks may also turn to anger the US further by backing President Maduro.

Mr Lukin said: “Moscow and Beijing are not able to seriously hurt Washington by raising tariffs or denying access to high technology. However, there are plenty of areas where coordinated Sino-Russian policies can damage US interests in the short term or in the long run.

“For example, Moscow and Beijing could intensify their joint support for the Venezuelan government of Nicolas Maduro, frustrating Washington’s efforts to dislodge him.”

China and Russia are also expected to bolster their economic ties during their meeting.

This is due to bilateral trade, which is dominated by Chinese imports of gas and oil, hitting $108 billion in US dollars last year.

This fell short of the target set in 2011 by Xi’s predecessor, Hu Jintao, of $200 billion by 2020.

Li Lifan, an associate research professor at the Shanghai Academy of Social Sciences, warned bilateral trade will not be an easy topic.

He said: “This is one of the potential hindrances in China-Russia relations and Beijing is hoping to [address this] … in the face of a possible global economic slowdown.”

But Danil Bochkov, a contributing author with the Russian International Affairs Council added China is not seeking to worsen ties with the US.

He explained the country is just hoping to ensure it has access to investments and markets elsewhere in the world.

Mr Bochkov said: “China is currently taking a very cautious approach towards the US, trying to avoid heating up the confrontation and further aggravation of the situation.

“For China it is important to demonstrate that it has a reliable friend – Russia – but that should not be done in an openly provocative manner.”

source: express.co.uk