Without High-Tech Sector, Russia Doomed to China Trade Imbalance

Russian Foreign Minister Sergey Lavrov is greeted by Chinese President Xi Jinping during a meeting at the Great Hall of the People in Beijing, Feb. 2, 2015 (AP photo by Rolex Dela Pena).
Russian Foreign Minister Sergey Lavrov is greeted by Chinese President Xi Jinping during a meeting at the Great Hall of the People in Beijing, Feb. 2, 2015 (AP photo by Rolex Dela Pena).
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Russia’s trade with China continues to grow despite the precipitous collapse in the value of the Russian ruble and the unprecedented Western economic sanctions imposed on Russia last year following Moscow’s annexation of the Crimean Peninsula. Indeed, China’s economic importance to Moscow has increased as Russia’s commercial relations with Europe, the United States and Japan stagnate. Yet the Russia-China economic relationship is imbalanced, with Russia sending mostly natural resources to China and importing mostly Chinese consumer goods. As a result, the two countries will find it difficult to deepen their economic cooperation much further unless it expands to encompass high-value […]

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