Valdai Club

When business people realize that the yuan is buttressed by giant production worth $39.5 trillion and the powerful Chinese economy, the yuan will start to function as a reserve currency. This will first take place in the region and then on a global scale.

The situation in Asia has changed dramatically. We should be able to better understand the historical chances not only for Russian-Chinese bilateral relations, but also for regional and even global affairs.

Although formally China still describes itself as a large emerging nation,in reality it is a major global power. China is transforming: its status is evolving and it is gaining political weight. Russian-Chinese relations are consequently changing, but the change should be proportionate to China’s rise.