2023-10-01 07:56:20
China’s exports of goods to Russia have surged, and relatively few Russian products have been purchased. (Illustration, Archyde.com)
[Financial Channel/Comprehensive Report]As Western countries retreated from Russia in large numbers, China took the opportunity to fill the gap. In the first eight months of this year, exports to Russia surged by 63.2%, and the total bilateral trade between China and Russia climbed to US$155 billion, an annual increase of 32%. However, a German research institute found that the growth of Sino-Russian trade is mainly due to the alarming increase in China’s exports to Russia, while the volume of freight shipped back to China from Russia is very small, indicating that Russia is increasingly dependent on China, which makes Putin’s friend Solovy Vladimir Solovyov was dissatisfied and accused Moscow of being “very dangerous” in relying on China.
China sells more, buys less, and empty containers pile up at Russian ports
“Voice of America” reported that following Russia invaded Ukraine in February last year, the United States and its allies cut off trade with Russia and adopted a number of sanctions. China has become an important economic lifeline for Russia, and Sino-Russian trade has grown significantly. China has bought Russian energy and increased its exports to Russia. In addition to ordinary consumer goods, it also has a large number of dual-use military and civilian materials to provide Putin with funds and military parts needed for the war.
According to Chinese customs data, in the first eight months of this year, bilateral trade between China and Russia increased by 32% annually, with total trade reaching US$155 billion. Among them, China’s exports to Russia surged by 63.2% to US$71.8 billion, while China’s imports from Russia increased by 13.3% to US$83.3 billion. Russia predicts that the total trade volume between the two countries will reach 200 billion US dollars this year, setting a record.
Although bilateral trade between China and Russia has surged, it is actually the influx of Chinese goods into Russia, while the number of goods imported from Russia is relatively small. Container xChange, a technical services company in Hamburg, Germany, released a research report on September 28, showing that there are as many as 150,000 empty containers in Russian ports. These unloaded containers are piling up and container ships are waiting to return to China, once once more highlighting China’s exports to Russia. The quantity of goods increased greatly, but imports were very small.
Christian Roeloffs, CEO of Container xChange, pointed out that the flow of goods from China to Russia is very large, while the flow of goods from Russia to China is very small. This has had an extremely negative impact on the container logistics business, due to a serious imbalance between supply and demand, and also means that return container freight rates in Russia are quite low.
The streets are full of Chinese goods, and Putin’s friends are dissatisfied
Russian ports are full of empty Chinese containers, indicating that Beijing is not buying much Russian goods. (Archyde.com)
Faced with Russia’s increasing dependence on China, Putin’s friends are very dissatisfied. Newsweek revealed that Russian TV personality Vladimir Solovyov, who supports Putin, was posted a video by the question.
Solovyov said that it is dangerous to replace the United States with China. Just like we used to put all our eggs in the British basket, we may put them in the Chinese basket. “This is very dangerous.” ”.
Solovyov continued that it is necessary for (our country) to admit that it is a bear that loves the taiga and relies on itself. It must formulate its own national interests and determine its own national interests. “Enemies, just call them enemies without hesitation, that way there will be no desire to ally with anyone.
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