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Consider the unlimited relationship between China and Russia a grain of salt: Li Daokui


According to Li Daokui, a former adviser to the country’s central bank, known as the People’s Bank of China, the so-called “unlimited” partnership is a “situational” and should be treated as “salt” abandoned the tank”.

Before Russia invaded Ukraine in late February, Beijing and Moscow declare strategic partnership “without limits” They say it is aimed at countering US influence. In a joint statement, both countries said there was no “no-go zone” for cooperation, but they did not mention Ukraine even though Russian troops were stationed on the Ukrainian border at the time.

“I choose to believe that China will not support Russia militarily,” Li, now a Mansfield Freeman professor of economics at Tsinghua University, told CNBC.Squawk Box Asia” on Wednesday. “[The] no bound relationship should be read with a grain of salt. “

“However, China will continue to do business with Russia based on humanitarian principles. That is to say, to help the Russian people be tougher during this very difficult period,” he said.

Since Russia invaded Ukraine on February 24, Beijing’s official stance has been to blame the conflict on NATO’s eastward expansion. Chinese government until now refuses to fully condemn Moscow’s invasion of its neighbour.

It stands in sharp contrast to much of the developed world, where many countries have imposed unprecedented sanctions on Russian businesses, banks and individuals. leaving Moscow with dire consequences for its gratuitous invasion.

Russian President Vladimir Putin and Chinese President Xi Jinping pose for a photo together during their meeting in Beijing on February 4, 2022. The two countries declared a partnership of “unlimited” before Russia invaded. Ukraine, although Beijing has attempted to position itself further from Russia than described after Xi and Putin met.

Alexei Druzhinin | AFP | beautiful pictures

The Russian economy is forecast to fall into a deep recession this year, with the Institute of International Finance predicting a contraction of up to 15% as a result of the war.

Li predicts that Beijing, in the meantime, will be “proactive” in pushing both Russia and Ukraine to “come to an agreement quickly.”

“Let us remember: both Russia and Ukraine before this conflict were good friends of China,” he said. “People tend to forget – Ukraine is really great, China’s great friend, apart from Russia.”

Taiwan: A ‘fundamentally different’ problem

On the topic of Taiwan, Li said the issue was “completely different in nature” than Ukraine, sentiment echoes stance from Beijing.

Beijing has repeatedly stated intention to unify with Taiwanan island off the coast of mainland China that is democratically autonomous but claimed by the People’s Republic of China.

“A large number of countries in the world do not recognize Taiwan as an independent country,” Li pointed out. Globally, only 14 countries are listed as diplomatic allies of Taiwan, according to the island’s Ministry of Foreign Affairs.

On the other hand, Ukraine has largely been recognized as an independent country, he said.

“What [Russia] Li has been and is carrying out any war or special military operation against Ukraine… is a violation of the recognition of many other countries,” Li said. of Chinese politics.”

“This is fundamentally different,” he said.

– Evelyn Cheng and Holly Ellyatt of CNBC contributed to this report.



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