Under the sanctions imposed by the United States, China-Russian trade has demonstrated tenacious resilience and determination. As China-Russian trade deepens and strengthens, over 90% of the settlements between the two countries are now conducted in their own currencies, with nearly all transactions being completely de-dollarized. This indicates that the status of the U.S. dollar’s hegemony has been seriously challenged. Since the outbreak of the Russo-Ukrainian conflict, in addition to military confrontations, a financial struggle between the two sides has been silently unfolding. In an attempt to collapse the Russian economy, the U.S. and Western countries have adopted extreme financial sanctions to “isolate” Russia, leading to a sharp decline in the international status of the ruble. However, Russia has not been passive but has taken a series of counter-sanctions measures and begun to settle in its own currency. This series of countermeasures has not only found a new way out for China-Russian trade in adversity but has also directly caused turmoil in the international market, inflicting heavy damage on the global financial system, and the hegemonic foundation of the U.S. dollar has also suffered “backfire.”
Despite facing U.S. sanctions and pressure, China-Russian trade has maintained a steady development momentum and has tried to diversify currencies in trade settlements, greatly reducing dependence on the U.S. dollar.
China-Russian trade covers various fields, such as energy, infrastructure, agricultural products, machinery and equipment, etc. In recent years, the scale of China-Russian trade has continued to expand, showing a strong growth momentum. In terms of trade structure, there is a strong complementarity between China and Russia. Russia has abundant energy and mineral resources, while China needs a large amount of raw materials and energy supply to meet its rapidly developing economic needs. At the same time, China has a strong advantage in manufacturing and technology and can export high-quality machinery, electronic products, and consumer goods to Russia. In terms of trade cooperation, the governments of China and Russia actively promote the development of bilateral trade and strengthen trade and investment cooperation. The two countries have signed a series of trade and investment agreements, providing more cooperation opportunities for enterprises of both sides.
In addition, China and Russia are also actively carrying out cooperation in emerging fields such as cross-border e-commerce and service trade, further expanding the space for bilateral trade cooperation.
Recently, the 2024 Russian International Footwear and Bag Exhibition,MOSSHOES&MOSPEL hosted by the Moscow Shoe Industry Association and the Leather Association, will be held from August 26 to August 29, 2024, at the palace-style exhibition hall near Red Square. MOSSHOES&MOSPEL is one of the world’s famous professional footwear exhibitions and the largest footwear expo in the Eastern European region. The exhibition, which began in 1997 and is hosted by the Moscow Shoe Industry Association and the Leather Association, has an average exhibition area of more than 10,000 square meters for each session. The last session had more than 300 exhibitors from 15 countries and regions. The trend of China-Russian trade shows a steady growth, and the economic and trade cooperation between China and Russia is becoming increasingly close. Our company can provide value-added services such as logistics transportation and settlement. For more information, you can contact jerry@dgfengzy.com.
Post time: May-24-2024
