Shanghai Cooperation Organisation (SCO) and Global South strategic cooperation

I also took at China/Russia trade set for 2023

China exported $111B and import $126B from Russia. Again, really narrowed trade gap. This makes trading in RMB a lot easier since there is not as much excessive RMB that Saudis or Russians are holding and needing to invest in China.

And the interesting part is just how much non-fuel oil product China imports from Russia. It is not only the largest importer of hydrocarbons, but also the largest importer of other products from Russia and by quite a long shot. So I would imagine things like enriched uranium will be high on the list, along with aluminum and a bunch of other metals and products. The two economies are increasingly entangled together, which is good for their relationships.

China can easily close any gap in trade they have with Russia by exporting motor vehicles and machine tools. If China's aviation sector becomes more self-reliant it could also export aircraft. Any excess RMB that Saudi Arabia have can also be used for example to buy Russian foodstuffs in a circular trade. Both countries can also invest in China. For example Saudi Arabia has been financing the construction of refineries in China, Russia could fund the construction of factories in China. Russia has basically full employment, and they lack certain finished products even if they do have the technology, they lack manpower to do everything, so they will likely try to export some production to Asia (China and India) by building factories there eventually.

Amazing China's masterplan for Oman explained in detail.

今年1月和2月，中国从俄罗斯购买了价值900万美元的燕麦，是去年同期的2.4倍

总体而言，2024年前2个月，俄罗斯的燕麦出口量超过6.4万吨，增长了2.5倍；出口额增长了2.6倍，达到1570万美元——也就是说中国占比57%

这两年中国大量购买俄罗斯农产品，中国也是2023年俄罗斯豌豆的最大进口国，91.5万吨，占比约36.6%

2023年，中俄贸易额为2401.12亿美元，同比增长26.3%。其中，中国对俄出口1109.72亿美元，增长46.9%；中国自俄进口1291.4亿美元，增长12.7%——2400这个数字已经记住了

今年中俄贸易额显然会再创新高，可以贸易的东西实在是太多了

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China significant increased import of oats from Russia in Jan/Feb of this year, 2.4x last year. Accounting for 57% of Russia's top export in this.
China also bought 36.6% of Peas that Russia exported in 2023
Clearly, China can and is increasing farming import from Russia

This happened as China is canceling wheat and possibly corn contract from America and importing more from Brazil and Russia

Now, if we can just import less from Australia in terms of iron ore and buy more from brazil and russia.

XCMG supplying heavy construction equipment like cranes to Brazil. Of course, it's build in XCMG's own 5G industrial park. China needs to focus on capturing more of the global south markets and winning them over that used to employ Western equipment

two good articles here on China and iron ore



this is not an easy situation to solve, but China has to move faster at reducing its dependency on Australian iron ore. i'm not concerned with Brazil really. I think ideally they get more supply out of Russia and central asian countries

tphuang said:

this is not an easy situation to solve, but China has to move faster at reducing its dependency on Australian iron ore. i'm not concerned with Brazil really. I think ideally they get more supply out of Russia and central asian countries

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There are a lot of still to be explored deposits of all sorts of minerals in both Russia and Mongolia. Iron deposits on the European side of Russia are pretty much tapped out, but the country is huge. Part of the reason for Russia improving the Baikal-Amur-Mainline railway was to enable the exploration of otherwise inaccessible mineral deposits in the Far East.

But for the iron ore problem to be solved for good I think that China needs to get those mines in Guinea operational.

gelgoog said:

There are a lot of still to be explored deposits of all sorts of minerals in both Russia and Mongolia. Iron deposits on the European side of Russia are pretty much tapped out, but the country is huge. Part of the reason for Russia improving the Baikal-Amur-Mainline railway was to enable the exploration of otherwise inaccessible mineral deposits in the Far East.

But for the iron ore problem to be solved for good I think that China needs to get those mines in Guinea operational.

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the thing is, China import 1.18 Billion ton of iron ore in 2023
Simandou project allows for export of 120 million ton per year, which is just 10% of China's need. China needs other sources to cover the other 90%. Which is where Brazil comes in and recycling steel comes in. working with Russia to find more iron. At some point, just adding more supply into market and lowering market rate will hurt Australia position. Just like what buying from Brazil has done in wheat and soy beans.

gelgoog said:

"Heavily reliant". Egypt just get a couple billion in US military aid a year. They got $1.3 billion USD in 2021. Same funding they got since 1987. They purchase multiple times that amount in military equipment with their own money. The IMF loans are a lot more relevant. They owe the IMF like $12 billion USD. But now that they are part of BRICS I doubt reliance on the IMF will continue long term.

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"Egypt's external debt has ballooned to nearly $165 billion, and the cost of servicing it is expected to reach $42 billion this year."


More debt than Pakistan and a Nominal GDP similar to size of Pakistan.

PakistaniDragon said:

"Egypt's external debt has ballooned to nearly $165 billion, and the cost of servicing it is expected to reach $42 billion this year."

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More debt than Pakistan and a Nominal GDP similar to size of Pakistan.

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Wtf that's 25% interest rate.