An Empirical Analysis Of The Impact Of Western Economic Sanctions On Sino-Russian Trade

China and Russia have comprehensive strategic cooperative partnership.Over the past two decades,China and Russia have maintained a highly friendly political relationship and made great contributions to the people in two countries and the world peace.However,compared with the highly friendly political relations between the two countries,Sino-Russian economic cooperation is not satisfactory.Although the economic and trade cooperation between the two countries has been growing steadily,the "politically hot and economically warm” is the main feature of Sino-Russian economic cooperation,the amount of trade between the two countries is less than that between China and other large countries,and the amount of investment between the two countries is limited too.How to promote economic and trade cooperation between the two countries based on the highly friendly political relationship is an important issue that the Chinese and Russian academics have always paid attention to and discussed.The Ukrainian Crisis in 2013 triggered economic sanctions by western countries led by the US against Russia and Russia's anti-sanctions,which brings serious impact on the Russian economy,and Russia's international economic relations.So what impact does this have on Sino-Russian economic and trade cooperation,whether it is an opportunity or a challenge? This paper uses the empirical analysis method to analyze the changes of Sino-Russian economic and trade relations after the western economic sanctions,including the scale and structure,and draws the practical conclusions of the western economic sanctions on the Sino-Russian economic and trade cooperation,and finds deeper problems,to promote Sino-Russian economic and trade cooperation to develop healthily.This article includes four parts in addition to the introduction.The first part is a comprehensive analysis of the contents and methods of the western countries' economic sanctions against Russia,and compares the economic sanctions with the previous economic sanctions.The second part is a descriptive analysis of the scale and structure of Sino-Russian trade,which gives the overall pictures of Sino-Russian economic and trade before the Western economic sanctions and the changes that have taken place after the western economic sanctions.The third part observes the relationship between Western economic sanctions and Sino-Russian economic and trade cooperation through empirical analysis.The fourth part makes suggestions on the Sino-Russian economic and trade cooperation based on the results of the second and third part of this paper.Finally,some research conclusions and revelation are given in this paper.Through the empirical analysis,it is found that the proportion of industrial manufactured goods in the Sino-Russian trade structure is increasing after the western economic sanctions,especially the increase of the proportion of capital-intensive products is very obvious.Through the trade integration index and the trade complementarity index,the Sino-Russian trade is further analyzed,this paper finds that the Sino-Russian trade is integrating closer and closer,the integration degree of trade from China to Russia is high but declines a bit,but the integration degree of trade from Russia to China is increasing continuously.Sino-Russian trade has a strong complementarity in industrial products,machinery,equipment and miscellaneous goods,which lays the foundation of strengthening the Sino-Russian trade relations.Western economic sanctions have a significant negative impact on the total amountof Russian trade and export,but the effect on import is not significant.The type of Sino-Russian trade is “potentially developing”,bilateral trade still has room to develop.Finally,this paper makes suggestions in improving systems and optimizing the structure of Sino-Russian trade,to promote the sustainable development of Sino-Russian trade.