Study On Sino-Russian Trade And Economic Relations Within The Framework Of BRICS

Since 2000,new economic model of China has led to fast development and increased importance for the international economics.Especially after 2008,European and American countries have been affected by the economic crisis and have experienced a sharp decline of economic growth rate,while emerging economies have realized excellent economic development in hardships by virtue of cheap labor force,abundant natural resources and other advantages.As the international economic pattern changes,emerging economies hope to enhance the link between each other to play a more important role in the international economy.In this context,BRICS rises to the occasion.BRICS consists of China,Russia,India,Brazil and South Africa,all of which are new growth drivers of regional economic development.Mutual cooperation within the BRICS framework helps the members to achieve better economic development.China and Russia are neighbors,enjoying a long boundary.Based on history of excellent cooperation,complementary economic structure as well as guidance of policies of two countries,their economic cooperation is close.Meanwhile,both countries are the members of BRICS.This organization plays a role as guidance for cooperation between the member countries.Hence,strengthen cooperation within the framework of BRICS contributes to economic development of the members.At present,BRICS has passed its first ten years of development,and cooperation among the member countries has made great progress.China and Russia,in particular,have strengthened their cooperation in different fields,including energy,finance and agriculture and have made a series of achievements,such as domestic currency settlement,investment cooperation under BRICS,establishment of New Development Bank,etc.However,economic cooperation between two countries has also faced some problems such as single trade structure,a small total volume of trade,trade standardization,etc.Both China and Russia believe that they can solve existing economic and trade issues with the help of BRICS and two countries will have a bright economic and trade future.This author takes development of BRICS as the principal line,reviews historical leader forums and cooperation declarations of BRICS and analyzes in detail a series of cooperation and achievements made by China and Russia in each field under these declarations.The author analyzes existing problems in Sino-Russian economic and trade relations and seeks for new ideas for improving Sino-Russian economic and trade cooperation by taking their cooperation in the Far East region of Russia and the New Development Bank frame as an example.