China won’t rupture West ties over Russia-Ukraine conflict

China Russia partner Ukraine

China won’t rupture West ties over Russia-Ukraine conflict

Although China and Russia have announced a “no limits” partnership, with “no forbidden areas of cooperation,” Beijing is unlikely to do anything to jeopardize its economic relationship with Europe and the United States, economists say, citing that China has long benefited from international integration and seeks to maintain the world economic order from which it currently benefits.

Read China : Russia remains ‘strategic partner ‘ amidst Ukraine war

On March 2, China abstained from voting at the United Nations General Assembly for the unconditional withdrawal of Russian troops from Ukraine. And China’s Foreign Ministry claimed that it firmly opposes any “illegal unilateral sanctions.”

While the United States, the European Union, and other countries imposed various sanctions and export curbs on Russia, China on Feb. 24 approved imports of wheat from all regions of Russia.

China has an ambiguous attitude toward the Russia-Ukraine conflict, and in response, the United States tries to force China to pick a side through potential punitive economic measures or export controls on certain technologies similar to that imposed on Russia, according to a State Department official.

If China “or any other country wants to engage in activity that would be subject to our sanctions, they’ll be subject to our sanctions,” the Wall Street Journal reported, citing a State Department official.

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China won’t rupture West ties over Russia-Ukraine conflict: Chinese Exports

A report published on Feb. 28 by Neil Shearing, the chief economist at London-based research consultancy Capital Economics, said that although China is politically leaning toward Russia, it is unlikely to do anything to rupture its relations with the West.

“That wouldn’t be in China’s economic interests—access to global financial markets is more valuable than anything Russia can offer … Xi has much stronger reasons than Putin to avoid a complete rupture in relations with the West,” Shearing wrote.

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China has reaped massive benefits transforming itself into a global manufacturing hub. Its GDP per capita has increased from less than 5 percent of U.S. levels in 1990 to nearly 30 percent today. Hundreds of millions of Chinese people have pulled themselves out of poverty in the process. In contrast, GDP per capita in Russia has fallen from over 50 percent of U.S. levels in 1990 to just over 40 percent today, according to Shearing’s analysis.

China Won’t Dare to Rupture Relations with US, Europe Over Russia-Ukraine Conflict, Economists Say  The Epoch Times

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Dean Nestor

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