The trade war between China and the US can be an excellent opportunity to expand the export of Russian agricultural products to China, said Secretary-General of the China Overseas Development Association and Senior Economist He Zhenwei.
"Now China and the US are waging a trade war. It is agriculture that will suffer the most as a result of the confrontation. China annually imports up to 95.5 million tons of soybeans, the main exporters are Brazil, the United States and Argentina. The volume of imports from the US is about 32.85 million tons. In the future, of course, China will not import the same volumes from the US, which means that it is necessary to import from other countries. This is a very good chance for Russia," He Zhenwei said.
He noted that the most significant advantage of Russian soy is that it is not transgenic. "At present, China annually imports about 500,000 tons of soybeans from Russia, and if Russia increases the soybean crop, it will be a good chance to attract Chinese investors," the economist said. He Zhenwei noted that China has a large consumer market, which provides good opportunities for creating a chain of 'investment - production - sales.' "Chinese investors need to find Russian partners, only so it will be favorable for investing in Russia and further sales of products in China. This should be beneficial to both parties," he said.
Earlier, US President Donald Trump introduced a series of duties against China, Beijing announced retaliatory measures and the beginning of the 'largest trade war.' In July, the US compiled an additional list of goods imported from China, against which 10% duties could be imposed. Recall, on August 3, Bloomberg reported that China was going to introduce duties at a rate of 25% on imports of liquefied natural gas (LNG) from the United States as a response to the introduction of duties on Chinese goods.
Source: kvedomosti.ru.
