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Since yesterday, the Chinese side has officially paid a three-day state visit to Russia. It is worth noting that at noon yesterday, immediately after the Chinese special plane landed at Moscow's Vnukovo airport, an important written speech was made, which was regarded as the beginning of the summit.
That afternoon, the leaders of the two countries held a 4.5-hour one-on-one informal meeting, albeit accompanied by an interpreter, but also in a closed and separate dialogue. After dinner, President Putin personally returned the Chinese representative to his hotel, details that showed Moscow's excitement.
First, let's guess what the 4.5 hours of conversation will be about. While the exact details have not been made public, some clues can be seen from the reactions of the parties. On the eve of the Chinese leader's visit, People's Daily published an article signed by Putin, highlighting the traditional friendship and future partnership between Russia and China. At the same time, the Chinese media also published important articles in international media such as RIA Novosti.
On the other hand, a few days ago, news came from the Russian side that dignitaries from political, business and military circles gathered in Moscow to welcome the visit of the Chinese side. Of particular interest was the presence of the head of the Federal Service for Military-Technical Cooperation of the Russian Federation, Shugaev, which sparked speculation in the Western media about the transfer of military technology.
In addition, the outside world is also paying great attention to the positions of the two sides on the Ukraine issue and China's possible mediation plan. Despite the limited information disclosed so far, it is foreseeable that the two sides will agree on many major issues, especially in the economic sphere. But resolving the Ukrainian issue is likely to be relatively difficult, especially against the backdrop of the unequivocal rejection of Chinese mediation by the United States and Russia's steadfastness not to withdraw its occupied Ukrainian territories.
Clearly, one of the areas where the summit between the two countries is most promising for great results is economic cooperation. Over the past decade, China and Russia have made huge breakthroughs in the economy, both in size and quality. Encouragingly, trade between the two countries doubled to $190 billion in 2022. China has been Russia's largest trading partner for 13 consecutive years, which is important for both sides in the context of the current crisis in Ukraine and Western sanctions. Western media ridicule China for not participating in Western sanctions and importing a large amount of Russian energy, which makes Putin more confident in coping with challenges.
One of the biggest changes in trade between the two sides is the trend of de-dollarization of economic cooperation between the two sides under the influence of Western sanctions. Last year, Russia signed a gas export agreement with China using a 50:50 settlement method in rubles and yuan. With the further expansion of the scale of economic cooperation between the two countries, the two countries will go further and further on the road to getting rid of the dollar.
Taking into account the close cooperation between China and Russia in the field of strategy and political economy, some believe that Brzezinski's grand chessboard strategy may become a reality under the Biden administration. In the 90s, he warned the United States to be wary of the possibility that China and Russia would come together because of their common dissatisfaction with the United States.
Today, that warning seems to have become a reality. The United States has not only increased its support on the issue of Ukraine, but also provoked incidents on the issue of the Taiwan Strait. With core interests compromised, cooperation between China and Russia seems inevitable.
Some Russian analysts believe that the cooperation between China and Russia may not be just ideological or common dissatisfaction with the United States, but seeks to establish a cooperative dialogue for common development of a new type of international relations. This has dealt a serious blow to the US-centric global order.
In response to the summit, the Russian media is full of optimism and even some excitement. Some media said the meeting could mark the decline of U.S. global hegemony. For a long time, relying on the hegemony of the US dollar, the United States has continuously imposed violent sanctions on other countries through economic and financial means, including freezing the assets of target countries and excluding them from the SWIFT interbank settlement system. This has made countries wary of the weaponization of the U.S. currency.
Today, the dollar underperforms in a number of international events, making countries realize their dependence on a single foreign exchange
Risk of reserves. At present, the proportion of dollars in the foreign exchange reserves of banks has fallen to 60%, down 10 percentage points from two decades ago. Against the backdrop of the Russian-Ukrainian conflict, this trend is accelerating. Whether it is Brazil and Argentina in South America, or regional settlements in China, Russia, Central Asia and other regions, they are actively promoting the process of de-dollarization.
Previously, China successfully mediated the conflict between Saudi Arabia and Iran through its own influence, and if the China-Russia summit can promote peaceful dialogue between the two sides in the Russian-Ukrainian conflict, then China's peace initiative will be recognized by more and more countries.
In the future, the voices of peace and development are likely to overshadow the bloc confrontation and ideological struggle played up by the United States. As the United States loses the dollar as a supporting force, its hegemony will become groundless and face the fate of collapse and disintegration. This trend will have a complete impact on the US-led global order and become an important turning point in the pattern of international relations in the new era.
In short, China's state visit to Russia not only marks the deepening of friendly relations between the two countries, but also has a significant impact in economic, political and geostrategic fields. Cooperation and dialogue between the two countries are not only expected to solve a series of international issues, but also promote the evolution of the global pattern and make important contributions to the establishment of a more just and balanced international order. The successful holding of this summit has opened new doors for cooperation between China and Russia, and also brought more hope for the future of the world.
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