Russia and the slowdown of the Chinese economy

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Title: Russia and the slowdown of the Chinese economy
Author: Nuutilainen, Riikka ; Rautava, Jouko
Organization: Bank of Finland
Department / Unit: Institute for Economies in Transition (BOFIT)
Series: BOFIT Policy Brief
Series number: 2/2020
Year of publication: 2020
Publication date: 17.1.2020
Pages: 19
Subject (yso): talouskasvu; ulkomaankauppa; energia; taloussuhteet
Keywords: Bofit-kokoelma; Venäjä; Kiina
Other keywords: Russian economy; Chinese economy; economic relations; China; Russia; foreign trade; energy; economic growth
Abstract: This paper examines the development of economic relations between Russia and China in recent years, focusing on how the slowdown in China’s growth and changes in its economic structures might impact Russia’s economic outlook and the future of China-Russia economic relations. Economic relations between the countries have progressed favorably over the past decade with increased trade and Russian oil exports to China buoying Russian economic growth. While this trade cooperation has served both countries’ interests, it has also reinforced Russia’s dependence on commodity exports. Like the rest of the world, Russia has to deal with China’s slowing economic growth. Those repercussions, however, are particularly challenging in Russia’s case.
Table of contents: Abstract .. 3 Introduction .. 4 Chinese economy has been opening while Russia is closing .. 4 Energy dominates economic relations .. 6 Unimpressive investment flows .. 10 Financial market and currency issues .. 10 China’s slowdown will hurt Russia .. 13 Conclusions .. 15 References .. 17

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