Immediately after the White House announced a series of important trade and diplomatic agreements reached during US President Donald Trump's visit, Beijing continued to be the focal point of the global geopolitical chessboard with a two-day state visit by Russian President Vladimir Putin.
According to CNBC, this trip is not only symbolic of the friendly bilateral relationship but also reflects the Kremlin's ambition to seek key commitments on trade and energy to alleviate the pressure of economic isolation.
Analysts believe there are three key strategic areas that will play a crucial role in the Russian leader's agenda this time around.
Geopolitical relations
According to Ed Price, a senior non-resident research fellow at New York University, Putin's visit to Beijing just days after Trump's was no coincidence.
He suggested that President Putin wanted to send a message to the US that Russia has a closer and more intimate relationship with China.
Price noted that Putin and Chinese President Xi Jinping have cultivated a close relationship for over a decade. Therefore, the Russian president wants to reaffirm Moscow's position as Beijing's closest geopolitical ally, while also seeking diplomatic support from China regarding the war in Ukraine.
According to Price, Putin is pursuing a long-term strategy to draw China closer to Russia while simultaneously countering what he sees as the threat from NATO in Eastern Europe.
Russia-China energy relations
Since the outbreak of the Ukraine conflict, Russia has faced stringent international sanctions and lost a large portion of its traditional energy export markets in Europe.
This forced Moscow to shift its oil and gas exports to Asia, making Russia increasingly dependent on its two major customers, India and China. This shift also significantly tipped the balance of power in Russia-China energy relations toward Beijing.
One of Putin's biggest goals on this trip is to push for the approval of the Power of Siberia 2 gas pipeline project. If approved, the project could help Russia double its gas exports to China, thereby partially offsetting the decline from the European market.
However, Beijing is not in a hurry. Sergei Guriev, head of the London Business School, believes Russia needs this project far more than China.
According to Guriev, thanks to its diversified supply sources and large energy reserves, China holds an advantage in negotiations. Beijing can prolong the approval process to exert pressure on prices, while the global energy market awaits signs of cooling down from the Middle East.
Trade relations
From a position where the European Union was its largest economic partner, Russia has made a dramatic shift towards China. In the past four years, trade between Moscow and Beijing has doubled, making China Russia's largest trading partner.
President Putin said that this visit is part of a series of regular meetings and exchanges between the two countries.
According to the TASS news agency, Putin emphasized that high-level visits and talks between Russia and China play an important role in promoting bilateral relations and exploring the potential for cooperation between the two countries.
However, analysts believe that Russia will continue to seek to expand economic and trade relations with China across a range of sectors.
Mr. Guriev noted that the visit was of particular importance to Russia given its increasing dependence on China for technology, consumer goods, and manufactured products.
According to Reuters, Russian President Vladimir Putin and Chinese President Xi Jinping have concluded their first meeting and are now attending a more expanded session.
Putin gave a positive assessment of the first round of talks and said the two leaders had committed to further promoting bilateral cooperation.
Here are the key points emphasized by Mr. Putin:
- The negotiations are of “great importance”
The Russia-China partnership is a positive model.
- Both countries aim to improve the living standards of the people of Russia and China.
Moscow and Beijing will continue to expand cooperation.
- The two sides will enhance coordination in international forums.
Source: https://baovanhoa.vn/the-gioi/3-dieu-nga-can-o-trung-quoc-229793.html
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