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SVETLANA VALENTINOVNA CHACHINAа
аLLC “Santekhmarket”
DOI: 10.22394/2070-8378-2021-23-3-98-102
Abstract:
The article presents the results of the analysis of Russian-Chinese economic cooperation over the past 70 years in light of the shift happening in both countries’ political paradigms and economic interests. The evolution of trade, economic and political relations, along with a detailed study of its stages, is described. The author examines the current state of economic relations between the Russian Federation and the People’s Republic of China and pays attention to both positive and negative development trends as well as their further prospects. Despite the fact that economic relations at the state level do not have a very long history from the point of view of a historical perspective and are less than 100 years old, they had a serious impact on the development of China: the participation of the Soviet Union was marked not only by the modernization of production field, but also by extensive investments and training of specialists. The development of Russian-Chinese cooperation was significantly influenced by the well-known political events of 2014 and the subsequent sanctions against the Russian Federation by Western countries, which gave rise to retaliatory sanctions from Russia. At the same time, despite the obvious successes of international economic cooperation between Russia and China, there are still many factors that have or may potentially harm their development. Most economists, along with public administration experts, understand the importance of eliminating the “commodity roll” of Russian exports since the benefits for both countries are relevant only for short time periods, but in the long term, both countries benefit from diversifying production and increasing exports from Russia to China of mechanical engineering products, chemical production, as well as other high-tech products.
Keywords:
Russian-Chinese economic cooperation, foreign trade, international economic relations, strategic partnership, joint investment projects
Received:
February 5, 2020
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