Xi and Putin meet as trade between Beijing and Moscow at all time high

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Bonny Lin, CSIS | csis.org/people/bonny-lin

Xi and Putin meet as trade between Beijing and Moscow at all time high

Bonny Lin from the Center for Strategic and International Studies (CSIS) has analyzed the recent meeting between Chinese President Xi Jinping and Russian President Vladimir Putin, noting that trade between Beijing and Moscow is at an all-time high. The analysis, co-authored by Bonny Lin, Brian Hart, Samantha Lu, and Yu-Jie (Grace) Liao, was published on October 23rd.

According to the analysis, there is a "deepening strategic alignment between Beijing and Moscow" as China and Russia continue to grow closer. The meeting between Xi and Putin took place at China's Belt and Road Forum, which marked 10 years of the Belt and Road Initiative (BRI). It was notable that Putin visited China for the first time since Russia's invasion of Ukraine in early 2022.

The CSIS analysts expressed growing concerns about the strategic alignment between China and Russia due to the increasing trade between the two countries and the frequency of their meetings. This particular meeting was their 42nd to date.

The analysis also highlighted that in September 2023, trade between Russia and China reached its peak, showing a 60% increase compared to the same period two years earlier. The authors noted that Beijing accorded special treatment to Putin during the meeting. In official group photos, Putin consistently stood beside Xi. The Chinese account of the meeting emphasized that Xi "held talks" with Putin and underscored the long-term commitment to strengthening China-Russia relations. Both leaders expressed their support for each other's challenges, with Xi backing Russia's path to national rejuvenation and Putin reaffirming Russia's commitment to the "one China" policy. They also expressed dedication to broader international cooperation, including within BRICS and other multilateral mechanisms, with a focus on addressing issues related to food, energy, and supply chain security.

Amid international concerns about the Belt and Road Initiative, China released a white paper emphasizing the initiative's commitment to transparency, sustainability, and anti-corruption efforts. Xi outlined key commitments aligned with the white paper's priorities, particularly focusing on green infrastructure, energy, and technology cooperation. Xi also unveiled a Global Initiative for AI Governance, positioning China as a leader in defining AI rules. While there is a shift in BRI priorities, China remains committed to key infrastructure projects and positions itself as a global advocate of internationalism and globalization.

Bonny Lin is the director of the China Power Project and a senior fellow for Asian security at the Center for Strategic and International Studies (CSIS) in Washington, D.C. Brian Hart is a fellow with the CSIS China Power Project, Samantha Lu is a research assistant, and Yu-Jie (Grace) Liao is a research intern with the CSIS China Power Project.

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