As sanctions continue, Sino-Russian relations – in many ways a pragmatic response to Western reproach – have been steadily developing. Russia’s eastward leaning strategy, or its ‘pivot to Asia,’ is largely coming in the form of energy relations and military cooperation with China.
US and EU sanctions, an economic reality for the Kremlin since it illegally annexed Crimea, have necessitated government officials to develop ways of bypassing Western financial systems. In doing so, Russia has committed to various financial activities, such as dumping 84% of its US debt (and subsequently tripling its gold reserves), increasing international weapon sales, and initiating contracts with sovereign wealth funds throughout the Middle East. What has Western analysts most worried, however, are the strengthening ties between the Russian Federation and the People’s Republic of China (PRC).
Some defence planners and policy analysts insist underlying issues – such as growing Chinese influence in post-Soviet states, the Russian Far East, and the Arctic – will prevent meaningful cooperation between Russia and China. Former Secretary of Defense James Mattis has waved off concerns about the developing Sino-Russian relations given a “natural non-convergence of interest.” While it is true that Beijing and Moscow may hold different worldviews, and opinions about global affairs, pragmatic cooperation in the near-term is likely to continue.
Growing relations, despite questions regarding their longevity, has prompted one Chinese Academic, Su Xiaohui from the Institute of International Studies, to describe Sino-Russian relations as an example for “New Type International Relations.” Built upon shared characteristics of illiberalism, moral latitude, and realpolitik, areas of collaboration to note will include the energy sector and military cooperation.
A decade ago, all of Russia’s gas pipelines flowed West. Fast forward to the present and vast oil and gas infrastructure sprawls out toward its neighbour to the East. As a top buyer of Russian energy, joint projects to note include the China…
Global Risk Insights is a world-leading publication for political risk news and analysis. Our global network of experts provides timely, insightful analysis on political events shaping business, economic, and investment climates in every corner of the world.
China’s new three-child policy highlights risks of aging across emerging Asia
Thailand’s (Baa1 stable) total dependency ratio is set to jump nine percentage points to 51% by 2030 – a faster increase than China’s – which will pressure public and private savings through higher taxes and social spending, reducing innovation and productivity gains.
Population aging in China (A1 stable) and other emerging markets in Asia will hurt economic growth, competitiveness and fiscal revenue, unless productivity gains accelerate, according to a new report by Moody’s Investors Service.(more…)
Clear skies over Asia’s new foreign investment landscape?
Compounding the fallout of the US–China trade war, the global pandemic and recession have caused considerable speculation on the future of foreign investment and global value chains (GVCs). But though there is likely to be some permanent change, it will probably not be as great as politicians expect.(more…)
Singapore Helps Businesses Go Green with New Sustainability Program
The sustainability program is part of the government’s push to implement the Singapore Green Plan 2030, a ‘whole-of-the-nation’ movement spearheaded...
ASEAN Meeting on the Environment and Transboundary Haze Pollution
The Meetings recognised the high and rapidly increasing levels of marine debris, and reaffirmed their commitment to implement the Bangkok...
Thailand welcomes first Finnair flight from Stockholm to Phuket
Bangkok, 25 October, 2021 – The Tourism Authority of Thailand (TAT) today welcomed the start of Finnair’s latest direct non-stop...
More COVID-19 restrictions are relaxed in Thailand from 16 October 2021
Bangkok, 16 October, 2021 – The Tourism Authority of Thailand (TAT) would like to provide an update that more COVID-19...
China’s economy stumbles on power crunch
BEIJING (Reuters) – China’s economy hit its slowest pace of growth in a year in the third quarter, hurt by power shortages, supply chain bottlenecks...