JRL NEWSWATCH: “Russia and China; Partnership is much better for China than it is for Russia; Just how much better might not become clear for a few years yet” – The Economist

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“[Compared to Russia,] … China[‘s] economy is six times larger (at purchasing-power parity) … its power is growing … as Russia’s fades. … Russia is evolving into a Chinese tributary. … Russia is still a nuclear-weapons state with a permanent seat on the [UNSC]…. It has modernised its armed forces and, as in Syria, is not afraid to use them. … Russian and Chinese warplanes conducted what appeared to be [their first] joint air patrol …. But … Russia is [quickly] becoming dependent ….  China is a vital market for Russian raw materials: [state-owned] Rosneft … depends on Chinese financing and … increasingly divert[s] its oil to China. … the yuan is becoming a bigger part of [Russia’s] foreign-currency reserves (the share of dollars fell by half to 23% during 2018 … the yuan’s share grew from 3% to 14%). China supplies vital components for Russia’s advanced weapons systems. … [and] is the source of … networking and security gear … Putin needs to control his people. … Russia struck a deal with [Chinese telecoms firm]Huawei … distrusted by America, to develop 5g equipment … rooting Russia firmly in China’s half of the splinternet. …”

Click here for: “Russia and China; Partnership is much better for China than it is for Russia; Just how much better might not become clear for a few years yet” – The Economist editorial

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