BRICS: China and Russia Prepare to Strengthen Economic Relations

Joshua Ramos
Source: ABC News

In a recent statement from President Xi Jinping, the BRICS nations of China and Russia said they were prepared to strengthen their economic relations. Specifically, the president stated that the two nations are seeking to “develop and establish a bigger regional market,” in statements made on Wednesday.

Russian Prime Minister Mikhail Mishustin met with the president in Beijing, where discussions over the country’s collaboration persisted. There, the two discussed strengthening their cooperative efforts to “bring real and tangible benefits to the countries in the region.”

Source: DW

Russia and China’s Partnership Grow Stronger

The BRICS nations have been a key story so far this year. Moreover, their rising prominence and de-dollarization efforts have been widely discussed. Now, two of the bloc’s biggest members have discussed greater strength in their partnership. In a meeting that occurred today, the two countries made their hopes very clear.

Specifically, BRICS leaders Russia and China are preparing to strengthen their economic relations. Chinese President Xi Jinping discussed the strong collaboration across several sectors. Xi stated that the two countries should investigate “potential “new economic, and investment relations. Growing their collaborative economic impact.

BRICS flags

“China is ready to work with Russia and countries of the Eurasian Economic Union to promote and connect the Belt and Road initiative with the union in order to develop and establish a bigger regional market,” Xi stated. In response, Mishustin stated that Russia is “ready to work with China to promote multi-polarization in the world and consolidate the internal order based on internal law.”

The two nations currently stand atop a rapidly growing economic bloc. Moreover, as the BRICS annual summit is set to arrive in a few months, a host of topics are to be discussed. Among them are the prospect for expansion and the development of a BRICS currency. Russia and China’s strengthening partnership could be vital to those ideas. Continuing to support a shift in the global power balance.