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China, Russia, and Twenty-First Century Global Geopolitics$
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Paul J. Bolt and Sharyl N. Cross

Print publication date: 2018

Print ISBN-13: 9780198719519

Published to Oxford Scholarship Online: March 2018

DOI: 10.1093/oso/9780198719519.001.0001

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Energy and the Economic Foundations of the Sino–Russian Relationship

Energy and the Economic Foundations of the Sino–Russian Relationship

(p.67) 2 Energy and the Economic Foundations of the Sino–Russian Relationship
China, Russia, and Twenty-First Century Global Geopolitics

Paul J. Bolt

Sharyl N. Cross

Oxford University Press

Chapter 2 explores the economic relationship between Russia and China. Both governments have made it a priority to enhance economic linkages, with “One Belt, One Road” possibly being a vehicle for stronger integration. However, rising trade was disrupted in 2015 by slowed growth in China and a serious economic downturn in Russia, and structural features inhibit trade. Energy ties are the most important form of economic exchange between the two countries, with Russia being a major energy exporter and China needing secure, reliable supplies of oil and natural gas. Pipelines now deliver crude oil from Russia to China. Natural gas pipelines have been contracted but not yet built. Russia seems to have become more open to Chinese investments in energy and other fields since 2014, although it remains to be seen whether economic ties will eventually match the depth of the political relationship.

Keywords:   Russia, China, trade, investment, oil, natural gas, pipelines, One Belt, One Road

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