By Shubhendra Anand, 29 March, 2023
China has become crucial to the russian economy in the last two decades. Sino- Russian strength under strong focus shows how China has become an important trade partner to Russia.
According to the reports, Russia has continuously expanded the hare of its imports from China over the years. The data from the trade portal of Germany Trade & Invest (GTA) shows that Russia's total value of the share of imports coming from China is around 24 percent before the war. Russia used to source most of its imports, 13.8 percent from Germany at the beginning of the millennium.
The reports also say that China is the largest trading partner of Russia already. The Russia-China affirmation came as the U.S. and its allies sanctioned Russia due to its invasion of Ukraine. Beijing instead called it for peace talks and not an invasion.
Upon the recent meeting between the two countries, the increasing use of the local currency was prominent on the list. It is also clear that the ruble and yuan already account for the two-thirds of trade deal payments between the two countries.
As the survey reports say, the essential goods in 2020 included all equipment from the field of communications technology and the equipment for recording and reproducing images and sound. Also, Russia imports a lot of office machines and automatic data processing machines. On the other hand, China usually imports crude oil and petroleum products from Russia.
Shubhendra Anand
Head Research
The most advanced graphic cards Nvidia’s are selling more than $40,000 on eBay, as demand rises for chips to train and deploy the artificial intelligence software. In March 2023, the company has announced several initiatives to broaden it reach in…
With rising market on the newly launched ChatGPT, there has been some rumours that Google has copied Microsoft-owned OpenAI’s ChatGPT to train its AI chatbot called Bard. However, Google denied the reports of doing anything like this kind.
According…
The United States economy adds up jobs quicker in March 2023. With this, the unemployment rate goes down to 3.5 percent. This signs persistent labor market closeness, which would witness the Federal Reserve raising interest rates again in May 2023.
…
Walt Disney is supposed to lay off thousands of more workers this week as it wants to slash 7000 jobs by the summer 2023. This marks second round of job cuts after a first round that began in March 2023.
Life expectancy has increased all around the world and the gap between highly developed countries and rest of the world is gradually diminishing day by day. There are multiple factors leading to the global progress with good access to sanitation,…