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Sino-Russian cooperation is currently primarily economic, with trade volume between the two countries exceeding $111 billion last year. In recent years, both Beijing and Moscow have focused on cross-border commerce and have worked together to de-dollarize. In the first quarter of 2020, the share of the greenback in trade between the countries fell below 50 percent for the first time. In August, top Russian analyst Alexey Maslov explained that the partnership between the superpowers is approaching a “breakthrough moment.”
“The collaboration between Russia and China in the financial sphere tells us that they are finally finding the parameters for a new alliance with each other,” Maslov told the Japanese publication Nikkei Asian Review.
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