Bear meets dragon

12 October 2011 By Jason Bush

Putin’s visit to Beijing highlights the deepening co-operation between the two giants. But they remain worlds apart on big issues, and trade between them is small. Apparent agreement on issues like U.S. policy and Syria shouldn’t worry the world just yet.

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Russian Prime Minister Vladimir Putin arrived in China on Oct. 11 for an official two-day visit, which includes talks with Chinese premier Wen Jiabao and President Hu Jintao. The visit was Putin’s first foreign trip since announcing on Sept. 24 that he intends to stand again as President.
During the visit China’s sovereign wealth fund, the China Investment Corporation, said it would invest $1 billion alongside Russia’s new Direct Investments Fund, a government-financed private equity fund that aims to encourage technological innovation and diversification of Russia’s commodity-based economy. There was no news on a 30-year gas supply deal, which has been stalled by disagreements over price.
In an article published in the Russian newspaper Izvestiya on Oct. 4, Putin outlined his vision of a future “Eurasian Union”, modeled on the European Union, which would involve deeper political and economic integration between the countries of the former Soviet Union. Putin called the proposed bloc “a bridge between Europe and the dynamic Asia-Pacific region”.

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