Prospects for Chinese-Russian Trade Cooperation in the Context of Digitalization

Prospects for Chinese-Russian Trade Cooperation in the Context of Digitalization

Yuchan Wang
DOI: 10.4018/978-1-7998-9254-0.ch009
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Abstract

As two major economies, China and Russia affect the stability and security of the world to a certain extent. Therefore, economic cooperation between China and Russia is an inevitable strategic choice. The COVID-19 pandemic has brought huge disasters and challenges to the world, and the digital economy has played a huge role in fighting against the pandemic. However, there is still a certain technological gap between China and Russia; the two sides not only have requirements for deepening technical cooperation, but also have the conditions for deepening technical cooperation. Especially in the post-epidemic era, how to deepen the economic integration of China and Russia is a question that is worth considering.
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Background

In the process of deepening international economic activities and constant changes in the international market, all countries need to be interdependent and interrelated in order to form an organic whole world. Under the background of economic globalization and regional economic integration, each country hopes to maximize its own interests through regional economic cooperation, so as to achieve rapid economic development. Both China and Russia are world powers and neighbors to each other. The Sino-Russian relationship is not only one of the most important major-power relations in the current world structure, but also the most stable and more effective bilateral relationship. In Sino-Russian relations, economic relations are the most important and dynamic component. As two major economies, China and Russia affect the stability and security of the world to a certain extent. Economic co-operation between China and Russia is thus an unavoidable strategic choice. In recent years, China-Russia political and economic relations have developed smoothly and strategic cooperation has continued to deepen. Russia has become China's tenth largest trading partner.

Key Terms in this Chapter

Post-COVID-19 Era: The era after the novel coronavirus epidemic has passed.

Digital Economy: A series of economic activities that use digital knowledge and information as key production factors, modern information networks as an important carrier, and information and communication technology as an important driving force for efficiency improvement and structural optimization. It is a new form of economic development that combines digital technology and economic activities.

Industrial Integration: Technological progress and deregulation have brought down the barriers between industries, and the cooperation and competition among enterprises in various industries has blurred or even reorganized the boundaries of the original industries, and eventually led to the emergence of new organizational forms. This process is industrial integration.

Prospect: To speculation or observation about the future development of things. In this paper, it refers to the development trend of digital economic cooperation between China and Russia in the future.

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