Siding with Russia would make little economic sense for China, according to analysts, as the United States and European Union still consume more than a third…
“On the pure economic question, if China were to have to make the choice – Russia versus everyone else – I mean, it’s a no-brainer for China because it’s so integrated with all of these Western economies,” said Chad Bown, a senior fellow at the Washington-based Peterson Institute for International Economics think tank who tracks China trade closely.
“China has normal trade, economic, financial, energy cooperations with Russia,” Qin told the CBS program “Face the Nation” when asked if Beijing would provide financial support to Moscow. “These are normal business between two sovereign countries, based on international laws, including WTO rules.”Article content
As Chinese citizens become wealthier, domestic consumption and services are playing a bigger share in China’s economy.on trade, at about 35 per cent of GDP, than the United States at 23 per cent or Japan at 31 per cent. The share of China’s exports to Association of Southeast Asian Nations countries, with which China recently has forged new trade agreements, has doubled to about 15 per cent, eclipsing Japan in importance. But China’s January-February 2022 trade data showed that exports to the European Union grew the most at 24 per cent.Russia’s overall trade with China has grown since the West first imposed sanctions on Moscow in response to its annexation of Crimea.
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