From Asia Times, May 13:
Importing more wheat & barley from Russia, China will reduce its reliance on Australia, US, Canada and France
Russia is speeding up the construction of a corridor in its Far East region in a bid to export more grain to Inner Mongolia in Northeast China.
On Wednesday, the same day the Ukraine military said it had driven Russian infantry back from some positions around Bakhmut, the Kremlin said that it will boost its grain exports to China via the New Land Grain Corridor.
Russian President Vladimir Putin instructed the cabinet and the central bank to work out an intergovernmental agreement to boost grain exports to China by October 1, Russia’s national day, Russian news agency TASS reported.
Chinese state media said that, after tariffs, quotas and logistic problems are solved, China will import more wheat and barley from Russia and reduce its reliance on grain imported from western countries including Australia, the US, Canada and France.
Commentators said that, while Russia and China can work together to overcome western sanctions, at the same time the development will further push the decoupling of the global economy into United States-West and China-Russia spheres.
A decade-long project
The idea of building the New Land Grain Corridor, which will connect China with the Eurasian Union countries, was first proposed by Beijing in 2012. It gained support from Putin and Chinese President Xi Jinping in 2016.....
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