The „friendship without limits“ between China and Russia, which the heads of state of the two countries still affirmed on the occasion of the Winter Olympics in China at the beginning of February 2022, has not lost its significance in the past year since the start of the Russian-Ukrainian war, even if China has held back from its otherwise pro-Russia position. However, this „friendship“ received a new boost with Chinese President Xi Jinping’s state visit to Russia in March 2023: Vladimir Putin, the Russian president, announced that in the future, all oil and gas transactions between Russia and China would be denominated in the Chinese yuan. Will this development help or hinder the Chinese yuan’s path to becoming an international currency? What are the economic and financial challenges behind this yuan peg in oil and gas transactions between the two countries, especially for China? What is the geopolitical significance of this deepened partnership for China, Russia, and also for the West?

Program

The event consists of different impulse lectures followed by a discussion.

The Global China Conversation #23 will be held in English.

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