from HUANG ZHANG in Beijing, China
BEIJING, (CAJ News) – BY signing deals worth hundreds of billions of dollars, superpowers China and Russia, have taken their relationship to the highest level.
The neighbouring countries have expanded their almost 75-year-old ties at the third Belt and Road Forum for International Cooperation (BRF) in Beijing, China.
Host president, Xi Jinping, pointed out that president Vladimir Putin has attended the event for three consecutive times, which reflects Russia’s support for the joint construction of the “Belt and Road” initiative.
“Russia is an important partner for China in international cooperation in building the Belt and Road initiative,” Jinping said.
Putin lauded the third BRF as a successful and important international public product recognized by the world since it was initiated ten years ago.
“I speak highly of President Xi Jinping’s keynote speech at the opening ceremony of the forum, appreciate President Xi Jinping’s foresight, and believe in and wish greater achievements in the great cause of jointly building the Belt and Road,” he said.
The signing of a whopping grain deal worth ₽2,5 trillion (about $155 billion) plus newly proposed oil and gas pipelines from Russia to China via Mongolia are the highlights.
The latter will see Moscow diverting its energy from Germany and the European Union (EU) after the West’s attempt to sabotage Russia’s energy through sanctions after its war with Ukraine.
The oil pipeline project, dubbed the Power of Siberia 2, will bring natural gas from Russia’s Yamal peninsula to China.
China and Russia’s increasing economic ties saw the global south, which for many years has been under economic shadows of the West, become its own economic zones.
Russia and China are members of the BRICS (Brazil, Russia, India, China, South Africa) grouping.
Jinping pointed out that not long ago, the BRICS countries achieved historic expansion, demonstrating the confidence of developing countries in promoting world multi-polarity and democratisation of international relations.
Analyst Grace Kisame, commented: “This (China-Russia partnership) has reverberating impacts for both economies but ensures food security for China and as a good purse for Russia.”
“My guess is we are yet to see more of these trade deals in the Middle East and Africa in general but most especially among the BRICS + Nations.”
Remus Octavian Mocanu lauded China’s business acumen.
“The Chinese are the wisest businessmen I know of. They know a bargain when they see it… Russia is a safe and reliable partner and so is China.”
Auwal Tijjani believes America and the EU are the biggest losers at the expanding Sino-Russo ties.
“The West thought they own the world and every other nation must do their bidding. Today the US is losing its grip and dominance over other nations. All thanks to China and Russia who are working relentlessly to achieve a multi-polar world,” Tijjani said.
– CAJ News