Russian-Chinese trade and economic cooperation: choice of strategy and legal support

Abstract

In today’s complex and volatile international political and economic environment, Russian-Chinese trade and economic co-operation has demonstrated high viability and potential. The purpose of this article is to explore the prospects of legal regulation of Russian-Chinese economic and trade cooperation in the context of geopolitical changes, the rise of the digital economy, as well as unbalanced trade structure, increased risks of changes in the investment environment against the background of the two countries’ aspirations for information and technological sovereignty. The leaders of the two countries attach great importance to bilateral relations. Through frequent high-level exchanges and strategic dialogues, they have provided a solid political guarantee for economic and trade cooperation in legal form. The two most promising areas for trade and business development have been identified: international trade and economic integration and import-substitution industrialisation. Legal and economic integration between Russia and China is a process of interpenetration and unification of legal orders and economies of the countries, which realise common economic goals. In the field of trade and economic cooperation, China and Russia are engaged in a two-way movement of integration and safeguarding national sovereignty and interests, resisting the interference of external forces and ensuring the independence and autonomy of cooperation. The key factor in ensuring sovereignty in the pursuit of producing imported goods in today’s situation is the possession of technology of varying degrees of significance. Import substitution is a significant factor in ensuring sovereignty by reducing the economy’s dependence on external supplies.

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