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The China-Russia Trade Relationship and Its Impact on Europe

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The China-Russia Trade Relationship and Its Impact on Europe

Bruegel,

5 min read
5 take-aways
Audio & text

What's inside?

Improved trade relations between Russia and China carry implications for the European Union.

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Editorial Rating

8

Qualities

  • Analytical
  • Innovative

Recommendation

Born of a thaw in relations between the two countries, the growing economic collaboration between China and Russia could bear meaningfully on the well-being of the European Union if that increased cooperation enables China to expand its export share to Russia. So says this study from economists Alicia Garcia Herrero and Jianwei Xu, who explain the origins of shifting geopolitical stances and offer an intriguing look at the implications. getAbstract recommends this stylistically dense but relevant report to policy makers and economists for the depth of its analysis and the cogency of its arguments.

Summary

A stronger trade relationship between Russia and China could negatively affect European Union exports to Russia. Several trends have converged to create this situation. Russia has experienced an economic malaise from plummeting oil prices as well as Western sanctions resulting from its 2014 annexation of Crimea. Meanwhile, China’s economic clout and its demand for oil have made China an attractive financing partner for Russia. At the same time that the EU was cutting exports to Russia because of sanctions, China was filling the void.

This new climate of cooperation between...

About the Authors

Alicia Garcia Herrero and Jianwei Xu are senior and visiting fellows, respectively, at Bruegel.

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