China-Russia relations continue to blossom in 2012(3)

BROAD PROSPECT

Russia and China experienced leadership changes this year but analysts in both countries are upbeat about the prospects of their relations.

Sheng Shiliang, a researcher with the Development Research Center of the State Council of China, said Russia will not be content with being just a regional force and will try to regain its status as a world leader.

In an era when economic momentum is power, Russia's foreign policy will be more oriented toward the Asia-Pacific, especially China, whose economy is the world's second largest, Sheng said.

Sheng said that China and Russia share firm strategic consensus on safeguarding global stability and development in a fast-changing world.

That's especially true, he said, on such issues as equality, non-interference in other's domestic affairs, multi-polarization, and maintaining the U.N.'s authority.

"As China and Russia have established a solid, in-depth and sustained relationship on the basis of mutual trust; they do not have to feel out each other during Putin's presidency in the next six years," said Xing Guangcheng, a researcher at the Chinese Academy of Social Sciences.

China and Russia, Xing said, aim for economic restructuring and advancing global economic governance reforms. That effort will provide a great opportunity for economic and trade cooperation, Xing said.

Russia now is the ninth largest trade partner of China, while China tops Russia's list. China occupies an important position because Europe's economic slump has forced Moscow to shift eastward to the Asia Pacific, where there is relatively strong economic growth.

"China plays a tremendous role in Russia's eastward looking, which Putin described as the major direction of Russia's development in the 21st century," Berger said.

Berger said cooperation between Moscow and Beijing in advanced technologies is crucial for both countries. That's as China seeks new engines of growth, including space and avionics biotechnology, while Russia needs to catch up with the developed countries in those sectors, Berger said.

Russia's accession to the World Trade Organization (WTO) in Agust would facilitate bilateral trade because both countries are now in the same club, he said.

The broad cooperation between the two countries has yielded significant fruit but has not yet reached its full potential. Despite a recent surge in trade, the countries' trade volume still remains relatively low, experts say.

Experts say Moscow's WTO membership means enlarged room for trade. That's because Russia, whose 1.9 trillion U.S. dollar economy is the world's ninth largest, is set to lower its tariffs and investment barriers and become more transparent to investors.

Moreover, regional and cross-border cooperation between China's Northeast Region and Russia's Far East and Eastern Siberia injects new impetus into bilateral ties, experts say.

China and Russia are leading economies and need each other in markets, technology and investment, among other areas, Li said. The two countries also have complementary advantages, the ambassador said.

"A stable, friendly and prosperous relationship between China and Russia is also needed for the development of the whole world," Li said.