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Oil-dependent Russian economy hit as price of crude plummets
China's top diplomat is offering Beijing's assistance to Moscow, as pessimism is spreading about the uncertainties of the Russian economy.
With the Kremlin vowing to address Russia's dependence on oil and gas, more teamwork with China in non-energy sectors may help, but the key "lies in the hands of Moscow itself", analysts said.
Following the drastic drop of oil prices, the Russian rouble plummeted on Tuesday and has lost nearly 50 percent against the US dollar and the euro since March.
Foreign Minister Wang Yi told reporters on Saturday that "Russia has the capability and the wisdom to overcome the existing hardship in the economic situation".
"If the Russian side needs, we will provide necessary assistance within our capacity," Wang said.
Wang said China and Russia have been consistently supporting and helping each other.
Feng Yujun, a senior analyst of Russian studies at the China Institutes of Contemporary International Relations, estimated that "the hardest time for the Russian economy is just kicking off, with the upcoming three years clouded by major challenges".
The researcher pointed to a strengthening US dollar, and said emerging economies including Russia will suffer more as money increasingly flows back to the US.
A major turnaround of the suffering economy "requires a range of measures to take effect", Feng said.
Russian President Vladimir Putin said on Thursday at an annual end-of-year news conference in Moscow that cooperation with China is one of the cornerstones of Russia's economic recovery and prosperity.
Zhang Deguang, a former Chinese ambassador to Russia, said Moscow has foreign currency reserves totaling hundreds of billions of dollars, and with such support the Russian economy "is still far away from being totally paralyzed".
Li Jianmin, a researcher at the Chinese Academy of Social Sciences, suggested that China's assistance be provided through mechanisms including the Shanghai Cooperation Organisation and BRICS.
Earlier this month, when Russian Prime Minister Dmitry Medvedev met in Astana, Kazakhstan, with Premier Li Keqiang, they agreed on enhancing cooperation in railways, infrastructure and the development of Russia's Far East region.
Loans, cooperation in major projects and participation in the domestic infrastructure investment in Russia are options on the table, Li added.
Qin Gang, the Foreign Ministry spokesman, told a news conference in Beijing on Thursday, "Please do not forget that China and Russia are highly complementary in the economic field, with broad areas and huge potential for cooperation."
Xinhua contributed to the story.
zhangyunbi@chinadaily.com.cn

China Daily 12/22/2014

Yes, Russians and Chinese people can be good friends, even from history we know that  ;D Nowadays - this can be true  ;D

I don't know if this isn't going to isolate America and Europe in time. : /
For now it's Russia that is suffering, but they'll find other nations to work with instead of Europe. There is China that can help them, maybe Iran, and then the other countries of brics, and maybe even south America. Imposing sanctions against them was not a good idea I think, because it will just make them work to be independent from the west.

Eurasia and Eastasia are at peace.  Eurasia and Eastasia have always been a peace.

Actually, if I were Russia I would be leery of China and how things are going to go for them WRT their relations to the West.  For my part I've long been of the opinion that the U.S. considered China to be the number one strategic adversary.  This line has been widely promoted and I bought it hook, line, sinker.  Recently I started to question whether China was not more of a test-bed and experimental lab for the U.S. (or at least for certain mainly western based interests) than a strategic adversary.  More recently (e.g., within the last few weeks) I stumbled across James Corrbett's exploration of this subject.  I think it is worth a watch and worth putting into the category of viable hypothesis and one to contemplate as things evolve.

  https://www.youtube.com/watch?v=5M1KD7Dnq4s (https://www.youtube.com/watch?v=5M1KD7Dnq4s)

If I were a Russian I would at least entertain the notion that this kind offer of support from China might be a ploy to drag what is going to probably be the most recalcitrant of the 'big three' under a more unified global umbrella of control.

russians and chinese should stick together in these difficult times as the zionist controlled american and european governments do their best to create conflict over nothing.

I think that this is a good decission. I have a really divided opinion because I don't know whom I can trust. The medias are twisting facts and arguments so that it's hard to find the truth. If the US really wants to attack Russia, China would be a good support for them. Hopefully there will not be a WW3.

Are Your TV and Media so hard deep in that anti Russian propaganda???
Russia is not more "Communist Evil", ehhh?

European Media are rather anti Russia and pro US. As I said I try to find the truth and form my own opinion, based on real facts and arguments. What do you think?

where's nemo1024?  :)

That is true but china would probably more neutral since there economy is very dependent on the U.S

Russian is the worst enemy of China, I can't believe this bastard assist them.
What a jerk.

LOL, this two guys are butchers.

Thats all propaganda. But in my opinion they are real friends (Remember back a few months ago -> the treaty about 30 years trading of gas between RUSSIA and CHINA).

China and Russia have common enemies, which makes them allies. China wants to help Russia, but cannot help too much, China still needs to stay on the good side of Europe and U.S.

Russia should be careful when dealing with China. This current move is mutually beneficial with the way the economic exchange of currencies is structured. China knows that if Russia falls in the current petrodollar conflict, then China will be the next big target.
Historically Russia (and USSR) had both ups and downs in their relations. China is known to view the large sparsely-populated Russian lands in Siberia with interest, offering long-term land borrowing... So caution is advisable.

Ohh, who others have interest in tajga with 0 infrastructure borrowing?

http://www.amurvisit.ru/files/amurvisit/styles/large/public/pedko3d_zelenaya_tayga.jpg?itok=ICzEVFKz

Go, put there Your money, if You are afraid...

First and foremost it should be Russians. If you don't invest into your own land, then someone else will come and do it, at which point it will no longer be your land.

I know that several projects were started there (including a space rocket launching facilities to replace Bajkonur), but not many enough.

To poison all around with rocket fuel (https://ru.wikipedia.org/wiki/1,1-%D0%94%D0%B8%D0%BC%D0%B5%D1%82%D0%B8%D0%BB%D0%B3%D0%B8%D0%B4%D1%80%D0%B0%D0%B7%D0%B8%D0%BD)?


Not be racist, money does not smell. This region need investors, and population. Chinese are better, than full of hate to Russians dudes from EU or Northern America.

Chinese people is very simple and easy to communicate, they offer refuge to many Russians in hard times in Russia with no problems.

The new space facilities in the Far East, with the shooting trajectory over the Pacific Ocean, will be less polluting than Bajkonur, that polluted both Kazahstan and Central Siberia .

Not a fascist, but realist. ;) When I said "Russians" in the quote above, I mean "citizens of Russian Federation", independent of their nationality.

Give to Chinese the Russian citizenship and they put tajga in strong economic relationship with real World business in that far from Moscow region.
Whit that You will sleep better, if ethnic Chinese invest own liefs and money in Siberian tajga?

In last Month who from Russians invested the own Money to Siberia???
People preferred to buy Lamborghini or Nissan...