Xi’s Meeting Observers closely monitoring China’s actions will focus on who leads discussions with Russian military officials on cooperation, given that Defence Minister Li Shangfu has been absent from public view for over six weeks. General Liu Zhenli, head of the military body responsible for China’s combat operations and planning, emerges as the top contender.
Weapons for War
China refrains from condemning Russia’s Ukraine operation, mirroring the Kremlin’s description of it as a “special military operation.” The U.S. cautions China against providing weapons to Russia. However, China, the second-largest importer of Russian crude, continues to support Russia’s economy, denying reports of weapon shipments.
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Xi Best Friends
Xi and Putin emphasize their close friendship. They’ve exchanged gestures of goodwill, such as Putin delivering Russian ice creams to Xi on his birthday, while Xi celebrated Putin’s birthday with him. Xi even awarded Putin a friendship medal in 2018, emphasizing their strong bond.
Oil and Gas
During Putin’s visit to China, the heads of Russian energy giants Gazprom and Rosneft will accompany him. Russia aims to secure a deal to increase natural gas sales to China and construct the Power of Siberia-2 pipeline. This project, with a proposed annual capacity of 50 billion cubic meters, surpasses the currently operational Power of Siberia, which aims to reach 38 billion cubic meters by 2025.
Soaring Trade
Trade between Russia and China has seen a remarkable 30% increase in the first half of this year. Russian Economy Minister Maxim Reshetnikov predicts trade will exceed $200 billion in 2023. Russia has become China’s second-largest trade partner outside Asia, ranking only after the United States. This dynamic shift reflects the evolving global trade landscape.
This pivotal meeting between Xi Jinping and Vladimir Putin promises to be a significant event, shedding light on critical aspects of China-Russia relations. Stay tuned for the latest updates on this historic encounter.
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Disclaimer: Please note that this article serves solely for informational purposes. As such, it is not financial advice. We strongly advise readers to conduct thorough research and consult with financial professionals before making any investment decisions.
