... comprehensive FTA across the Global South may be based on the BRICS+ framework
The expanded format of the BRICS+ dialogue conducted by China in June 2022 as well as the rising number of large developing economies expressing willingness to join the BRICS core grouping ... ... ambitious steps directed at strengthening South-South economic cooperation.
At the same time, rising protectionism across the global economy, looming risks of stagflation and the division lines emerging along the Global North-South axis raise the expediency of ...
... the Institute of Far Eastern Studies of the Russian Academy of Sciences and the Institute of International Studies at Fudan University presents the common views of leading Russian and Chinese international affairs experts on the development of Russia-China cooperation in 2021 and the first quarter of 2022.
That was the period when international environment and increasing global confrontation significantly influenced Moscow— Beijing relations. The authors of the report concentrate on how recent international ...
... for home appliances. China maintained its status as a “global factory”, entrusted with overseeing “knock down” assembly, simple, labor-intensive, or environmentally harmful manufacturing. China’s authorities realized that given the growth of China’s economy and of its population’s income, this development model would inevitably drive China into a middle income trap. On average, China’s GDP per capita in 1995–2005 grew by over 10% annually, while in some years, for instance in 1994 and 1995,...
... global economic cooperation. Speaking at the first Eurasian Economic Forum in May of this year, President Vladimir Putin also said that Russia is not going to cut itself off from global economy; Russia will remain open.
As the world’s second-largest economy, China is widely and deeply integrated into the global economic chain, has great influence on the global economy, and is highly influenced by global markets.
Some academics have proposed a “dual circulation” concept, or an idea like it, in which the ...
... provides new opportunities for Chinese companies.
Second, China has the opportunity to obtain significant volumes of Russian raw materials at a discount. Russia will play an important role in diversifying the sources of raw materials for the Chinese economy.
Third, China can gradually strengthen its role as a major international financial centre. If the renminbi becomes the key currency of international transactions for Russia, this role of China will inevitably grow.
There are several factors that will contribute ...
... attempted provocations from Washington. Ambassador Zhang Hanhui merely repeated what
is now being extensively talked about
on both sides of the Russian-Chinese border, namely that Russia has little choice but to go for even greater rapprochement with China in the new foreign policy and socio-economic environment.
Against this background, Chinese business is perceived as a force capable of bridging the gap with the West for the Russian economy. But is it all so clear-cut? Will these expectations be justified? Let’s find out.
Cautiousness of Big Business
Ivan Timofeev:
Ukrainian Crisis. Who Has the Upper Hand?
Amid unprecedented sanctions the West has imposed on Russia, big business ...
... 10% of GDP, thus effectively increasing the scope for further accumulation of reserves rather than spending them to boost growth.
The year 2021 was also emblematic for the degree to which the green/environmental agenda was embraced across the world economy, most notably in all of the main global centres – Europe, the US and China. This was the case in Russia as well, with most of major companies adopting ESG strategies and the authorities committing to achieving net zero emissions target by 2060. The importance of the green agenda for Russia was emphasised on numerous occasions ...
... coal prices prior to the pandemic, which allowed generation companies to operate normally. Second, in the era of a “new normalcy,” the spike in industrial power consumption and high export rates required for a large-scale crisis were absent. When China’s economy began to rebound after the coronavirus outbreak, these conditions were finally met.
Dynamics of Energy Consumption Growth in China’s Secondary Sector in January–September 2011–2021
Compiled by the author using data from stats.gov.cn, customs....
The divergence in growth performance across the global economy was notably affected by the Covid pandemic, as China weathered the crisis notably better thus far compared to most of the developed economies
A common platform for economic cooperation across the Global South opens the possibility for the world economy to lower global imbalances via creating a “no ...
... fact that “many in the US Congress want Georgieva out because she is not a sworn enemy of Beijing.”
Interestingly, while China’s ranking stayed the same in 2018 as the prior year’s at No. 78, after Ms. Georgieva departed from the World Bank, Beijing ... ... inequality between the Global North and the Global South persists. This is happening due to power imbalances inscribed in the world economy and maintained by the developed countries, which claim to have the right and responsibility to set the rules of international ...
