usa.chinadaily.com.cn
Record China-Russia Trade Reaches $245 Billion in 2024
In 2024, China-Russia bilateral trade reached a record \$245 billion, a 2 percent year-on-year increase, driven by energy cooperation and diversified trade, with both nations transitioning to national currency settlements to overcome Western sanctions.
- How are China and Russia overcoming Western sanctions to maintain and expand their trade relationship?
- Russia is China's largest trading partner, a relationship strengthened by long-term energy contracts and diversified trade in agriculture, technology, and other sectors. Despite Western sanctions, 90 percent of payments are now in national currencies, showcasing adaptability and resilience. This economic interdependence benefits both nations.
- What is the significance of the record-high \$245 billion trade volume between China and Russia in 2024, and what are its immediate impacts?
- China and Russia's bilateral trade hit a record \$245 billion in 2024, a 2 percent increase year-on-year. This growth is driven by energy, with Russia supplying 108.5 million metric tons of oil, around 20 percent of China's total imports. This energy cooperation is expanding into gas, projected to reach 40 billion cubic meters this year.
- What are the long-term strategic implications of the expanding economic partnership between Russia and China, and how might this partnership evolve in the next decade?
- The full resolution of sanctions-related settlement issues could potentially double Russia-China trade in 5-10 years. China's Belt and Road Initiative, with Moscow as a key hub, and joint development of the Northern Sea Route, indicates long-term strategic cooperation exceeding simple economic exchange. This partnership demonstrates resilience and adaptability in the face of geopolitical pressures.
Cognitive Concepts
Framing Bias
The article's framing emphasizes the positive aspects of the Russia-China economic relationship. The headline (if there were one) would likely highlight the record-breaking trade figures and mutual benefits. The structure, which progresses from positive statistics to discussions of overcoming challenges, reinforces a narrative of success and inevitability. The concluding paragraph explicitly states that the partnership is 'not directed against third countries,' which is a framing designed to mitigate potential negative perceptions.
Language Bias
The language used is generally positive and celebratory, using terms like "strong," "productive," "intensifying," and "dynamically advancing." While factual, these terms carry positive connotations, potentially influencing the reader's perception of the relationship more favorably than a more neutral description would. For instance, 'intensifying cooperation' could be replaced with 'increasing cooperation' to achieve greater neutrality.
Bias by Omission
The article focuses heavily on the economic benefits of the relationship between Russia and China, but omits discussion of potential negative consequences or criticisms of the relationship from other countries or perspectives. It doesn't address potential human rights concerns related to either nation's actions. The lack of counterpoints or alternative viewpoints weakens the analysis, especially regarding the impact of Western sanctions and the geopolitical implications of the strengthened trade relationship.
False Dichotomy
The article presents a largely positive view of the relationship, implicitly framing it as a win-win scenario without acknowledging potential complexities or downsides. It does not explore potential tensions or conflicts of interest that might arise from such a close economic partnership.
Sustainable Development Goals
The article highlights significant growth in bilateral trade between China and Russia, reaching a record $245 billion in 2024. This substantial economic cooperation creates jobs, boosts economic activity, and fosters growth in various sectors such as energy, agriculture, and technology in both countries. The expansion of energy cooperation, with Russia becoming China's top gas supplier and significant oil trade, directly contributes to economic growth and job creation in related industries. The increasing use of national currencies in settlements further strengthens economic independence and reduces reliance on Western financial systems.