Recently, there has been no shortage of highly pessimistic commentaries published & republished, pointing out the supposed “follies” of Russia’s eastern pivot, by highlighting this year’s decline in Sino-Russian trade, China’s stock market volatility, and its supposed economic “weakness”. The conclusion implied by these articles is clear: “Russia’s economic pivot to China is failing, because increased economic cooperation has not mitigated Russia’s recent economic woes, or the effect of sanctions. China cannot save Russia, and the latter must continue depending on the West.”
This is essentially a straw-man conclusion. One thing should be plainly apparent through even a casual examination of Russia’s biggest recent commercial agreements with China: most of these arrangements with China were NEVER INTENDED to offset the impact of Russia’s current recession, but rather to position Russia’s economy for greater long-term diversification and upward mobility on the global economic value chain.