China’s new vassal: Vladimir Putin

“When Chairman Mao Zedong visited Soviet dictator Joseph Stalin in the winter of 1949, he was very much the junior supplicant. Stalin packed him off to wait for weeks in his snow-bound No. 2 dacha, 27 kilometers outside Moscow, where the humiliated and constipated Chinese leader grumbled about everything from the quality of the fish to his uncomfortable mattress.

When the two Communist leaders did get to business, Stalin bullied his way to a very favorable deal that put Mao on the hook to buy Russian arms and heavy machinery with a loan on which Beijing would have to pay interest.

Seven decades later, the power dynamics reveal a radical reset. Shortly before invading Ukraine, Russian President Vladimir Putin traveled to the Winter Olympics in Beijing to proclaim the “no limits” friendship with China’s Xi Jinping, but there’s no doubting who the real superpower is in that duo these days. China’s $18-trillion economy is now 10 times mightier than Russia’s. Beijing will hold nearly all the good cards in setting the terms of any financial lifelines from big brother.

As Russia faces a sharply contracting economy under sanctions and an impending oil embargo from Europe, China is the obvious potential benefactor for Putin to turn toward.

Xi shares Putin’s hostility to the West and NATO, but that doesn’t mean he will be offering unalloyed charity. Xi’s overriding strategic concern is China’s prosperity and security, not saving Russia. Beijing is likely to buy at least some oil diverted from Europe, but only at a hefty discount from global benchmarks. China will only help Russia to the extent that it doesn’t attract sanctions and imperil its own ability to sell goods to rich countries in North America and the EU.”

“For years, Chinese officials have been quietly lobbying their Russian counterparts to cut arms sales to India, which has had a sometimes bloody border dispute with Beijing.

Between 2017 and 2022, India was the largest arms export market for Russia, followed by China, according to statistics from the Stockholm International Peace Research Institute. Fighting Indian soldiers armed with Russian equipment may not be fun for China, but it’s certainly a lucrative business for Russia.

Before the war, “Russia was very stubborn and [would] say, ‘Oh, you’re not in a position, China, to dictate us our choices to whom we sell weapons. But I think that China will be in this position probably five years down the road,” said Alexander Gabuev, an expert on Russia-China relations with the Carnegie Endowment for International Peace, a think tank.

India, for its part, is trying to keep an open relationship with Putin. New Delhi, like Beijing, is snapping up cheap oil, even though it’s also eager to maintain strong ties with the U.S.”

https://www.politico.eu/article/china-new-vassal-vladimir-putin/

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