Valdai Club

For a long time there has been a process of reorientation of Russia’s trade flows from the West to the East. The Asian market is huge; it has great growth potential and the population has high purchasing power. Trade cooperation with the BRICS countries, ASEAN, the Arab countries, as well as Africa and Latin America is expanding, writes Anastasia Stepanova.

Currently, great emphasis is being placed on the technical modernisation of the Chinese economy, the development of a new type of urbanisation, the creation of smart cities, the development of artificial intelligence (AI) technology and mechanisation. At the same time, the budget includes significant funds to accelerate green and low-carbon development, green initiatives and environmental protection.

The BRICS countries contribute to the balanced development of emerging markets and developing countries through the BRICS cooperation model, becoming a safe haven for many countries.

China’s economic development plans are ambitious. According to some experts, the Chinese economy will overtake the US economy within the next 5-7 years, writes Anastasia Stepanova, Deputy Head of the Business Tourism Development Center, Russian-Chinese Chamber for Machinery, Technologies and Innovations.

The platform business model is prevalent among the largest global companies such as Apple, Amazon, Alibaba, Facebook, Tencent with platform companies accounting for trillions of dollars in market cap and a sizeable part of market cap increases among the largest companies in the world. The use of platforms as a models is increasingly employed at the country level and across regions as new formats are explored to build new networks and alliances.