President Xi?s visit to Russia

President Xi’s visit to Russia
 

News: Recently, The Chinese President was on state visit to Russia. It highlights the growing strategic partnership between China and Russia, which has significant implications for India.
 

What are recent developments?
 Economic Ties – In the aftermath of Russia-Ukraine war, Russia has increasingly relied on China for its economic ties. It is reflected in Russia’s trade with China in the Chinese yuan which has multiplied by an extraordinary 80 times.
 Political Ties – Both the nations have united and launched scathing attack on United States and their way of interference in other countries internal matters. For example, in 2021, China and Russia issued a joint statement condemning the United States for its interference in other countries internal affairs.
 Military Ties - In November 2021, the two sides signed a Road Map for Military cooperation for 2021- 2025 to guide collaboration in this sphere.
 De-Dollarization – Both the nations believe that global economic system is over-reliant on the US dollar and are looking to change this. They are also against the use of unilateral sanctions as a means of enforcing foreign policy.
 

What are the implications on India?
 The strategic implication is particularly in the areas of defense and security. India has been trying to counter China’s growing military presence in the region, and a closer alliance between China and Russia could make this more difficult.
 One of the main implications of the growing relationship between China and Russia for India is the potential for increased military cooperation between the two countries. For example, the recent military exercises conducted by China and Russia in the Arctic region have raised concerns in India about the possibility of increased military cooperation between the two countries.
 China – Russia may look to work together on regional political issues, such as the ongoing conflict in Afghanistan. This could marginalize India’s influence in the region.
 Both the nations are in favor of using the Chinese yuan for settlements between Russia and the countries of Asia, Africa, and Latin America. This economic pact has raised concerns in India about the potential impact on its own economic growth and competitiveness.
 

What should India do?
 India should engage in active diplomacy with both China and Russia to strengthen its ties with these countries. This could involve high-level visits, cultural exchanges, and people-to-people contacts.
 India could work with China and Russia to promote regional stability and connectivity through the SCO framework.
 India should also focus on strengthening its position in the region by collaborating with other countries in the neighborhood. This could involve working on regional initiatives to promote peace, stability, and economic development. For example, India can work with Japan and South Korea to counterbalance the growing influence of China-Russia.
 India should also focus on enhancing its economic ties with China and Russia. This could involve exploring new trade and investment opportunities, as well as working on joint economic initiatives. For example, India, China, and Russia’s recent initiative to create a common digital currency could be beneficial in strengthening their economic cooperation.
 

Way Forward
 Adopt a proactive approach, strengthen ties with like-minded countries and ensure that India’s sphere of influence in its neighborhood isn’t lost. It is important that we secure our position and foothold in our neighborhood first, look for improving economic prospects and keep the diplomatic channels open for any possible co-operation.