Development of Economic Cooperation Between Russia and China in the Condition of New Geopolitical Threats and Challenges

The purpose of the study is to analyse the state and directions of development of foreign economic cooperation between the Russian Federation and the People’s Republic of China in conditions of growing macroeconomic instability. During the study, the following tasks were set and solved: the prerequisites for the formation and content of the global foreign economic initiative ‘One Belt, One Road’ (OBOR) were analysed (Belt and Road Initiative [BRI]), as well as Russia’s participation in the implementation of transnational infrastructure projects; the advantages and risks of implementing the strategic initiative ‘BRI’ for the state of the economy of Russia and China have been identified; an analysis of the dynamics of indicators of trade and economic cooperation between the Russian Federation and the People’s Republic of China was carried out; the main directions of development of Russian–Chinese foreign economic relations have been identified. It was determined that the sanctions restrictions imposed on Russia by a number of unfriendly states confirmed the validity of the decision on the need to expand foreign economic contacts with China. Dynamics of indicators of trade, economic and investment cooperation between Russia and China in the period from 2013 to 2023 indicates the steady growth of its indicators and the mutually beneficial nature of interstate relations. The analysis showed that the prospects for trade and economic cooperation between Russia and China within the framework of the strategic initiative ‘OBOR’ are determined by the projected sustainable growth rates of macroeconomic indicators of the participating countries, as well as the effectiveness of foreign economic policy instruments.