‘Multipolar world’: What Xi and Putin announced after Beijing summit
Summary
Russian President Vladimir Putin and Chinese President Xi Jinping signed a joint declaration in Beijing to promote a "multipolar world" where global power is shared among several countries. They also agreed on many new deals to strengthen economic, political, and cultural ties between Russia and China, including moving trade away from the US dollar.Key Facts
- Putin and Xi signed a 47-page joint declaration advocating a world where no single country dominates.
- They criticized the current US-led "unipolar" global system and called for shared international power.
- The two leaders agreed their bilateral relations have reached an unprecedented level.
- Economic cooperation is growing, with trade near $240 billion last year and 20% growth this year.
- Almost all trade between Russia and China is conducted in their own currencies, the ruble and yuan.
- Russia increasingly depends on Chinese technology and manufacturing due to Western sanctions.
- The two countries signed about 40 agreements covering government, corporate, and industry cooperation.
- They plan to align China’s 15th Five-Year Plan with Russia’s development strategy through 2030.
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