The search for alternative investors and markets has been a political priority for President Vladimir Putin and his government since Western countries imposed economic sanctions on Russia last year. The resulting pivot to China may seem merely cosmetic, but it is happening.
Admittedly, most of the vague and extremely long-term mega-deals signed by the two countries' governments over the last year will have no immediate effect. Even so, China has become one of the two biggest sources of funding and investment for the Russian economy. The other is the money Russian businesses have stashed in tax havens and bring home as needed. The Chinese share of Russian trade is growing, too.
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