Top Writers
Preface. Russia has suffered an unprecedented financial crisis, and its most powerful ally, China, has not responded in any way. Why is this happening?
Russia turned to China for help, but did not receive a positive response.
According to Russia's Siluanov on 28 February next year, Russia has been holding long-term consultations with China on the issue of borrowing money from China, but no results have been achieved.
He also said that the news was brought to China at the end of 2023. Counting the time, at least more than two months have passed.
Why does Russia want to borrow money from China? Because he has no money. Russia's foreign exchange reserves fell from 600 billion in 2014 to less than 400 billion in 2023 and continue to shrink.
Russia's state debt has also grown, with its share of GDP exceeding 20%. Russia's credit rating is also declining and is now in the "junk" category.
Russia's local currency, the ruble, has also begun**, from more than 30 rubles in 2014 to more than 100 in 2024. Russia's current economic difficulties are largely due to the lengthy sanctions imposed on it by the West.
Since the Ukraine crisis in 2014, the United States and Europe have imposed economic, financial, energy, military and other economic sanctions on Russia, which have had a great impact on the Russian economy.
In 2022, on the second anniversary of the Russia-Ukraine war, the United States once again imposed a new round of sanctions on Russia, the scale of which can be called "devastating", including more than 500 countries.
The above-mentioned measures have not only restricted Russia's exports, investment, capital, technology, and other aspects, but also threatened to freeze the reserves of Russia and Russia in Europe and the United States, thus dealing a serious blow to Russia's economy.
Against this backdrop, Russia urgently needs a trustworthy financial partner to weather the crisis. China, Russia's all-round strategic partner, also has a very important position in Russia's mind.
China has abundant foreign exchange reserves of more than 3 trillion yuan, ranking first in the world. China's economy is also strong, it is the world's second-largest economy and Russia's number one partner.
China is also a strong country, always safeguarding Russia's independence and rights and interests in the world, confronting Western countries and not being controlled and interfered by them. So Russia wants to get a sum of money from China in order to reduce its own financial burden.
However, China has been slow to give a positive answer to Russia, and has repeatedly pushed back and held back. How so? China clearly has its own considerations about borrowing and not borrowing.
Why doesn't China lend money to Russia?
Why didn't China lend to Russia? This is not due to China's reluctance to come to Russia's aid, or because China has misgivings about Russia's sincerity, but simply because China is playing a friendly game.
China has to take into account both its own interests and its own risks. At present, the world situation is very complex, and China has to face not only a big country like the United States, but also more challenges and pressures. China must maintain the stability and development of its economy, and it must have enough money to protect itself, rather than easily lending it.
This time, Russia will definitely ask for a lot of money, and they did not say how much, but conservative estimates should have exceeded 100 billion dollars.
For China, this is also a lot of wealth. Because it is a large loan, many things need to be discussed, including the term of the loan, interest, guarantee, and repayment method. This is a problem that must be resolved through negotiation and concessions, and it is impossible to become fat in one bite.
China, on the other hand, needs to consider its own influence and credibility. China is a responsible country, and it cannot arbitrarily interfere in the internal affairs of other countries, let alone regard itself as someone else's life-saving benefactor.
It is very easy for China to lend money to Russia, which can easily give the West the illusion that China is helping Russia to carry out an invasion, a provocation to the international community, and a provocation to world peace. This will seriously damage China's international reputation and standing.
China's lending to Russia will make Russia dependent on China as its backstage, supporter and protector.
Therefore, it is possible that Russia will slack off on its own reforms and adjustments and move forward along a course that is not sustainable, more aggressive, more aggressive, and more aggressive. This is not conducive to China's long-term development or to the realization of its strategic objectives.
Therefore, China's difficulties, needs, own interests, own risks, as well as its influence and credibility in the world are all a game of goodwill.
China needs to find a balance in this game, and it needs to show China's goodwill and cooperation, China's reason and wisdom, and China's respect and trust.
Putin, don't misunderstand what I mean, the friendly relations between China and Russia will never change.
Why China has not lent money to Russia does not mean that China's friendly relations with Russia have changed. The friendly relations between China and Russia are unbreakable and unbreakable, and they will not be interfered with by the outside world.
As all-round strategic cooperative partners, China and Russia are a brand-new model of international cooperation based on jointly confronting hegemony and adhering to multipolar development.
China and Russia have carried out a lot of cooperation and communication in political, economic, security, cultural and other fields, and have supported and understood each other, as well as mutual respect and trust.
China and Russia have strengthened coordination and cooperation on international issues, are committed to defending international law and the fairness and justice of the international community, jointly addressing various global challenges and threats, and promoting international peace and development.
The friendly relations between China and Russia have gone through the baptism of the years and will not be swayed by temporary setbacks or opinions. The friendly relations between China and Russia are based on the deep friendship between the peoples of the two countries, and this will not change due to external interference or misunderstanding.
The friendly relations between China and Russia are conducive to the common interests of the two countries and the two nations, and this point will not be broken by the instigation and interference of a third party.
Conclusion. Therefore, there is no need for Putin to misunderstand that China's failure to provide loans to Russia does not mean that China's friendship with China and Russia is of no value, or that China has not helped in any way to safeguard Russia's legitimate rights.
China, on the other hand, is counting on Russia to get out of the current economic crisis on its own and make it stronger and more stable.
China is willing that Russia will work with China to continuously deepen all-round strategic cooperation between China and Russia, promote practical cooperation between China and Russia in all fields, defend the common interests of China and Russia in the world, and make its own efforts to promote world peace and development.