As Moscow Becomes More Dependent on Beijing, China’s Economic Problems are Becoming Russia’s, ‘Important Stories’ Says

Paul Goble

            Staunton, Dec. 4 – It has long been a saying among financial specialists that “when America sneezes, the rest of the world gets sick.” But for Russia, the editors of the Important Stories portal say, the economic well-being of China rather than of America is more critical – and China’s economy at present is faced with many problems and is slowing down.

            Consequently, China may be even less willing to help Russia than it was not out of political calculations alone but out of economic ones; and Chinese conomic difficulties that Beijing could cope with may become Russian ones that Moscow won’t be able to do so without changing course (istories.media/opinions/2023/12/04/operetsya-na-slomannuyu-ruku/).

            At the very least, this aspect of Chinese decision making should be included in any assessment of what it is doing with regard to Russia, including two recent moves that have largely been interpreted in terms of Beijing’s desire not to get too close to Russia lest it add to its problems with Western countries.

            These are its decision not to build a Russian pipeline in Siberia (nakanune.ru/articles/121581/) and its demand that Russia reduce the price it charges China for natural gas even further (russian.eurasianet.org/китай-не-хочет-платить-россии-за-газ-даже-полцены).

            But more than that, the extent to which China’s own economic problems appear likely to grow, the resulting negative consequences for Vladimir Putin and his bet on Beijing are likely to be far greater and far sooner than he or many others imagine.