Pragmatic China does not want to invest in Russia: this will affect negotiations with the United States

China puts pressure on Russia economically / Getty Images

The last year of interaction between Moscow and Beijing has shown that Xi Jinping does not consider Vladimir Putin to be a person he can trust. Therefore, the very truthful impression is that China is not ready to increase cooperation with the aggressor.

Alexander Kraev, an expert at the Ukrainian Prism Foreign Policy Council, shared this thought with Channel 24 . He emphasized that China no longer considers Russia a reliable target for its investments.

The US will not win China over to the West

At the meeting in San Francisco, China, in any case, will defend exclusively its interests. And the United States is ready for this, because its main desire is to establish a reliable communication channel with Beijing that would help understand the logic of its actions.

The United States presented China with a choice: either trade with the West and access to technology, or help from Russia and large-scale sanctions, Kraev explained.

Washington's policy towards China is quite pragmatic, because American officials understand that regardless of whether Beijing follows the rules or breaks them, it will still remain a competitor to the United States. However, the Biden administration believes that it is possible to agree on at least basic things with the equally pragmatic China.

China's influence on Russia

At the same time, throughout 2023, relations between Moscow and Beijing were extremely tense. It began with Xi's visit to Vladimir Putin – but immediately after that, Russia decided to deploy nuclear weapons in Belarus, trying to test China's red lines .

And already in the summer, the Kremlin ruined its reputation by withdrawing from the grain deal, which was useful for Beijing. And in response to this, China began to put pressure on Russia at the diplomatic and economic levels.

Indicative here is the Power of Siberia 2 gas pipeline project, which the Kremlin really counted on. However, the Russian delegation was rebuffed at a meeting in China, and Beijing is now redirecting its investments to construction. new gas pipeline line with Turkmenistan.

Alexander Kraev on Chinese economic policy: watch the video

“A year ago it was impossible to imagine that China would abandon a project with Russia for the sake of cooperation with Turkmenistan. But now Russia has ceased to be a valid asset, because investing in it has become a risky business ,” the political expert noted.

Today, insurance companies for the most part will not take on transactions if Russian counterparties take part in them. Russia has become a toxic country from a diplomatic point of view, and that is why refusal to deepen economic cooperation with Moscow is a matter of pragmatism.

Meeting between Biden and Xi Jinping: latest news

• Even before the meeting, China tried to send signals to Washington about its commitment and the importance of balance between the world's two largest economies. The Chinese leader openly stated this back in October, and on the eve of the meeting China made another traditional diplomatic gesture.
• To do this, China purchased 3 million tons of soybeans from the United States, although it costs significantly more than Brazilian soybeans. In addition, these volumes significantly exceed China's needs for this product. Accordingly, this agreement was supposed to convey Beijing's respect to Washington.
• At the same time, both Ukrainian and American officials are convinced that one of the main topics for discussion between Xi Jinping and Joseph Biden will be the Russian-Ukrainian war and the path to peace in Ukraine.