• Thursday, August 22, 2019

No US, no problem! Russia-China trade set to double & reach $200 billion soon

Discussion in 'World Affairs' started by beijingwalker, Jun 12, 2019.

  1. beijingwalker

    beijingwalker ELITE MEMBER

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    No US, no problem! Russia-China trade set to double & reach $200 billion soon
    Published time: 11 Jun, 2019 09:45

    [​IMG]
    The trade volume between Russia and China is expected to continue to accelerate and reach new heights, doubling the current record level of $108 billion, the Russian economy ministry says.
    Russian Economic Development Minister Maxim Oreshkin told China's Xinhua News at the St. Petersburg International Economic Forum that a memorandum of understanding on trade promotion, recently inked in Moscow, will help to double bilateral trade to its target level in the next few years.

    According to Oreshkin, this year the neighboring countries intend to continue increasing trade volume, which is “the point from which we are starting to reach new, ambitious goals.”

    “We have full cooperation and complete understanding, and it is in this spirit that we will continue,” he said.

    The minister added that Russia and China have listed a number of key sectors for development and improvement.

    “The two countries should not only implement large projects, but also provide diversified end-use goods and investment. These volumes will grow very actively,” Oreshkin explained.

    A new science and technology innovation fund will be created for investment in Russian and Chinese small and medium-sized enterprises.

    Oreshkin noted that Russia plans to increase soybean exports to China which is the world’s largest importer of the produce. China is also set to become one of the major importers of Russian poultry and dairy products.

    https://www.rt.com/business/461577-russia-china-trade-turnover/
     
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  2. beijingwalker

    beijingwalker ELITE MEMBER

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    Traders like to stay with their familiar customers and suppliers, once US loses the world biggest market, 1.4 billion population one, it's extremely hard for it to get it back again.
     
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  3. gambit

    gambit PROFESSIONAL

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    So how many more times will see another Sino-Russo alliance that is supposed to <do something bad> to US? I lost count since '09.
     
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  4. PradoTLC

    PradoTLC FULL MEMBER

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    poor ameri-cons they are shooting them selves in the foot
     
  5. Hamartia Antidote

    Hamartia Antidote ELITE MEMBER

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    Every other month there is a re-announcement of some kind of alliance...and don’t forget they are “finally” going to ditch the dollar. Take that America!! :sleep:
     
  6. lcloo

    lcloo SENIOR MEMBER

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    The cold fact is manufacturing will not be going back to USA. Other countries continue to export to US, so import into US remains the same but losing a 1.4 billion market means US exports will be drastically cut down.

    The result of having same volume of imports (from countries other than China) and reduced exports to China will make US balance of trade far worst than ever.
     
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  7. beijingwalker

    beijingwalker ELITE MEMBER

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    US forgets that China is the world biggest retail market, with her 1.4 billion consumers, it'll stay this way for a loooog time.
     
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  8. oprih

    oprih BANNED

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    About time, China and Russia are natural allies, they relationship must remain strong and mutually beneficial. Meanwhile China must hurt murica as much as it can, muricans are the enemy, never trust them.
     
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