Putin made four comments that together perfectly encapsulate what the central problem for Russia is that he wanted to address with Xi.
” and signed a slew of huge oil and gas deals shortly afterward that provided an additional layer of insulation to both from any U.S. sanctions in the future.
Before the first of the series of meetings over the weekend between the two presidents, First, he laid out what he thinks the broad aim of the Russia-China partnership should be, which is to challenge the U.S.’s ongoing efforts to create a unipolar world. He added: “Attempts to create a unipolar world have recently acquired an absolutely ugly form and are completely unacceptable.
Since its foundation, though, the internal balance of power has shifted in the SCO away from Russia and towards China, with the former seeing an ongoing decline in its economic and political power since the fall of the USSR in 1991, and the latter set to overtake the U.S. as the world’s biggest economy in terms of GDP within the next 10 years or so. More specifically, China’s GDP is now ten times the sizes of Russia’s , and its military spend annually is over four times that of Russia .
Given these factors, then, China’s current “balanced position,” as Putin exasperatedly called it, can be summed up in one phrase: use everything possible to become the world’s leading economic power in as short a time as possible while ensuring no direct confrontation with the U.S. that would threaten that objective. Happily for Beijing, which is that both of them want oil and gas prices as low as they can go without bankrupting the majority of the world’s suppliers.
It is this consideration that Xi focused on during his discussions with Putin on the sidelines of the latest SCO meeting, according to EU energy security sources spoken to exclusively last week by. Although Russia accounts for only 2.9 percent of China’s total imports, Moscow resolutely stepped up to the plate in 2021 when China faced an energy crunch. As a result, Russia now accounts for 20.
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