Comparative Connections v.16 n.2 - China-Russia
September 15, 2014
Against the backdrop of escalating violence in Ukraine, Sino-Russian relations were on the fast track over the past four months in three broad areas: strategic coordination, economics, and mil-mil relations. This was particularly evident during President Putin’s state visit to China in late May when the two countries inked a 30-year, $400 billion gas deal after 20 years of hard negotiation. Meanwhile, the two navies were drilling off the East China Sea coast and the Conference on Interaction and Confidence Building Measures in Asia (CICA) was being held in Shanghai. Beyond this, Moscow and Beijing were instrumental in pushing the creation of the $50 billion BRICS development bank and a $100 billion reserve fund after years of frustrated waiting for a bigger voice for the developing world in the IMF and World Bank.