In 2019 ASEAN’s bilateral trade with America was worth $292bn and with Japan $116bn. With Russia it amounted to a piddling $18bn. Yet Russia has a new focus on the region
Russia’s Asian charm offensive is not new. Since Mr Putin first took office two decades ago, Moscow has assiduously cultivated ties there, eager to sell commodities to its booming markets and to develop the anaemic economy of its far-eastern territories. But some analysts argue that this “pivot to Asia”, as Moscow calls it, is really a pivot to China, which is thirsty for Russian hydrocarbons and with which Russia shares a rival, America.
The problem is that, aside from arms and hydrocarbons, Russia does not have much to sell to the region. In 2019’s bilateral trade with America was worth $292bn and with Japan $116bn. With Russia it amounted to a piddling $18bn. Little has changed since 2010, when Russia’s foreign minister lamented that economic ties withRussia’s approach to foreign policy is “short-termist”, says Alexander Gabuev of the Carnegie Moscow Centre, a think-tank.
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