... interest rates across the whole eurozone, fuelled credit and real estate bubbles in the USA and Europe, which burst in 2008-9 amid the global ‘credit crunch’.
... ... likely to stop looking West and instead go East – as soaring trade levels with China already foreshadow.
However, Russia remains a European power – part of... ... modernisation, on the one hand, and authoritarian consolidation, on the other hand.
Energy Calamity
It is argued by some that the Russo-European relationship has soured...
... symbolic, as is the case with first foreign visits (See: NTS). Energy was at the forefront of the visit with two different outcomes ... ... neighbour could be a threat, while also calling for the final end of USA's hegemony (See: SCMP). Albeit, it is hard to see China not taking the lead regionally and globally in the future ... ... FoxBusiness). The most recent negotiations have lasted since 2004, when Gazprom signed a cooperation deal with its Chinese counterpart ... ... However, on the brightside Gazprom agreed with China in regards to long-term contracts, thus allowing it to develop the riskier fields ...