Russian and Chinese economies will be able to overcome crisis together

Russian and Chinese economies will be able to overcome crisis together

At present Russia and China face all sorts of economic difficulties, however their mutual efforts and interaction may help them to overcome all these difficulties together. This conclusion was made by the participants in a round-table discussion "The trends of the world economy: the China factor and the price of oil. What happens with Russia?" that took place today in Moscow.

According to the deputy director of the Institute of Far Eastern Studies, the head of the Center for Economic and Social Studies of the Chinese Academy of Sciences, Andrei Ostrovsky IFES, the problem with energy resources is quite acute in China now, due to which the country is forced to deal with their diversification.

"Wind and solar resources have started to be actively used now. 66% of consumption is coal. This problem should be solved in China by increasing the consumption of gas and oil. Now it is important how fast Russia can provide China with these resources," a VK correspondent cites his words as saying. 

The head of the Russian-Chinese economic and financial research center at the Finance Academy under the Government of the Russian Federation, Nikolay Kotliarov, agreed in his speech that today China has not succeeded in this as we would like it to have.

"The growth of China's economy is due to slow down. They have their own limiters, reduction of dynamics, reflected in the growth of unemployment," he said.

At the same time, "there are very serious restrictions on the access of foreign investors to China. That is why money won't leave the country due to volatility on the stock market."

The head of the research group of the world economy of the Center for Macroeconomic Analysis and Short-Term Forecasting, Alexander Apokin, also pointed out the necessity to address the complexities associated with the transport infrastructure.

"There are problems now with land delivery of goods from China to Europe. The Trans-Siberian Railway is the most convenient of all the ways, but there is an alternative in the form of marine supplies, for example, via Rotterdam. China's problem is not only in the internal, but also in the external infrastructure. This leads to the need for the development of the Silk Road project,''  he explained.