Economy

Moscow closes with Beijing, Trump courts Xi: the new three-power cold war

Moscow reiterates its closeness to Beijing. Russian Prime Minister Mikhail Mishustin traveled to Hangzhou to meet his Chinese counterpart Li Qiang. On this occasion, secondRia Novostivarious agreements were signed “in the fields of investment, energy, transport, agriculture and media”. In this framework, Mishustin said that relations between Moscow and Beijing are “at the highest level in their centuries-old history and continue to develop dynamically in all areas, despite various obstacles and illegal Western sanctions.” “Despite the new risks and external challenges in this process, China and Russia constantly support each other, establish strategic contacts and interactions, and are committed to jointly overcoming difficulties,” the Chinese premier declared, for his part, before adding: “China and Russia are good neighbors and reliable partners who can always trust each other.”

It is quite significant that the meeting between Mishustin and Li occurred just a few days after the face-to-face meeting in South Korea between Donald Trump and Xi Jinping. We recall that the United States and China recently reached a trade truce: Washington partially reduced duties and temporarily suspended special port taxes on Chinese ships, while Beijing deferred restrictions on the export of rare earths, also promising to purchase large quantities of US soybeans. Trump, during his face-to-face meeting with Xi, also hoped that the latter could help him put an end to the Ukrainian conflict. However, the fact remains that, net of the trade truce, relations between Washington and Beijing remain quite tense. Trump has not lifted restrictions on the export of high-tech material to the People’s Republic. Furthermore, on Sunday, during an interview given to theCBSthreatened “consequences” should Beijing’s forces invade Taiwan.

It is in this context that Mishustin’s visit to China took place. It cannot be ruled out that the Kremlin did not look too favorably on last week’s face-to-face meeting between Trump and Xi. For his part, the American president aims to distance Moscow and Beijing. It recently imposed sanctions on Lukoil and Rosneft, worrying not only the Kremlin but also the People’s Republic, which is the main buyer of Russian oil. On the other hand, on Sunday, the occupant of the White House also held back on the supply of Tomahawk missiles to Ukraine. In short, the triangular relationship between Washington, Beijing and Moscow is becoming increasingly complex. Vladimir Putin is strengthening ties with the Dragon to counterbalance the meeting between Trump and Xi. However, he is at the same time worried about the suffocating embrace with China and hopes to stem it by consolidating his relations with North Korea which the Chinese president views with suspicion. Trump, for his part, still hopes to disengage Moscow from Beijing through commercial opportunities for the Russian Federation, but he does not hesitate to use the lever of sanctions to put the czar under pressure. And it is no coincidence that the American president himself recently extended an olive branch to Pyongyang: a move that should be seen as anti-Chinese.