After initial reluctance, China now buys more and more crude oil from Russia. Beijing thus offers itself to Moscow as an important alternative buyer – and benefits from hefty price discounts.
By Christiane Kuehl
Global risks create new challenges. Inflation, food shortages and energy supply, which is being redefined by the Russian war in Ukraine, are closely intertwined and mutually reinforcing. These risks also recently occupied the World Economic Forum in Davos very intensively. That's good, but: It seems that the long-term climate goals of the global community have been lost in the fog of war, and that is by no means in Beijing's interest.
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Russia's invasion of Ukraine also calls Germany's economic ties to China into question. Xi Jinping rules in a similar authoritarian manner to Putin. But decoupling from China would hurt the German economy more than Russia's. And so Achim Wambach argues for more free trade. The Head of the ZEW economic research institute explains why in today's interview conducted by Felix Lee.
By Felix Lee