Professor Yu Miaojie, President of Liaoning University, was recently interviewed by Russia’s TASS news agency. The article is as follows:

Chinese Expert: “The United States Will No Longer Be China’s Biggest Trading Partner in the Future”

Vladivostok, September 10 (TASS) - Yu Miaojie, President of Liaoning University and a renowned Chinese economist, stated during an interview with our reporter at the Eastern Economic Forum that ASEAN and the BRICS countries will become important trading partners for China in the future.

According to Yu Miaojie, as China’s trade relationship with the United States becomes increasingly complex and its relationship with Europe becomes more sensitive, China’s economic and trade structure is undergoing further adjustments and changes.

The expert pointed out that “ASEAN has already replaced the United States and the European Union as China’s largest economic and trade partner. I believe that ASEAN will continue to be China’s largest trading partner in the future. The newly joined countries of the BRICS will also gradually become China’s economic and trade partners. I think that the economic and trade volume between China and the United States will likely remain as the second or third largest trading partner for China in the future.”

Professor Yu specifically mentioned the complementarity of trade between Russia and China when discussing Sino-Russian trade.

Yu Miaojie elaborated: “We can see that there are indeed geopolitical challenges in current Sino-Russian economic and trade cooperation. However, I believe that the opportunities outweigh the challenges, because there is strong complementarity in economic and trade between China and Russia. In other words, China’s strong manufacturing capabilities and Russia’s abundant natural resources provide a solid foundation for further economic and trade cooperation between the two countries. Therefore, I am confident in the economic and trade cooperation between China and Russia.”

Professor Yu firmly believes that trade between the two countries will continue to be further enhanced.

Yu Miaojie continued in the interview: “I believe that, given time, the total trade volume between China and Russia can be further increased. The proportion of Russia’s trade with China will also increase, and China’s economic and trade position with Russia will further be enhanced. At the same time, I also believe that the economic and trade cooperation between China and Russia is in the interest of the people of both countries.”

According to data released by the General Administration of Customs of China, the trade volume between China and the United States from January to August this year decreased by 14.5% to $438.1 billion. Meanwhile, the trade volume between China and Russia increased by 32% year-on-year to $155.1 billion.

The 8th Eastern Economic Forum will be held in Vladivostok from September 10 to 13, 2023. The theme of the forum is “Path to Cooperation, Peace, and Prosperity.” The event is organized by the Russian Convention and Exhibition Foundation, with TASS being a media partner for the forum.

 Read the article here: https://terminal.tass.ru/state/item=26093756