‘It Will Never Be the Same’: Can the West Win Back Russia’s Market From China?

‘It Will Never Be the Same’: Can the West Win Back Russia’s Market from China?

The fallout from the war in Ukraine for Russia, including a weaker ruble, sanctions and the exodus of Western companies, has created an opening for Chinese firms in the Russian market.

China Warns Russia’s Ukraine War Spending Could Empty Reserves and Trigger Default

China’s leading credit-rating house is warning that Moscow’s widening war in Ukraine could drain Russia’s financial reserves and push the country’s debt profile to the brink of default, China Chengxin International Credit Rating (CCXI) assigned the Kremlin a sovereign grade of BBB+g—its first public rating of Russia since the full-scale invasion began on May 12. CCXI describes the new mark as “mid-level” credit quality, signaling moderate defaul…

In Beijing, it seems "unknown" to the Russian negotiating style in Istanbul, which put forward ultimatums and threatened endless war.