The US-China trade war, if escalated, could lead to economic slowdown and even recession in Russia, analysts by theMoscow Higher School of Economics’SE Centre for Business Tendency Studies (CBTS) said in a report, according toTASS. “If the trade conflict between the world’s two biggest economies, the US and China (roughly 35% of world-wide nominal GDP, Russia – about 2%), hits the ceiling and, consequently, growth rates of the economies of mentioned countries all but certain slow down for some period, that will immediately result in a notable decline in global commodity prices and create major difficulties for the main Russian export,” the. Read more...
While Washington and Beijing are still having a hard time finding a way out of their economic standoff, Moscow’s been busy with new opportunities that are opening up for its exporters on the Chinese market. The end of July brought good news to Moscow - Chinahad removedall restrictions on imports of soybeans from Russia, a decision that the Kremlin considers a “huge breakthrough”, as Beijing has long been restrictive towards Russian agricultural goods. Themediawas quick to tie this decision to the ongoing economic standoff between China and the U.S., who has been one of the main suppliers of soybeans to China over the past few years.. Read more...
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