×
Enjoying ad-free content?
Since July 1, 2024, we have disabled all ads to improve your reading experience.
This commitment costs us $10,000 a month. Your support can help us fill the gap.
Support us
Our journalism is banned in Russia. We need your help to keep providing you with the truth.

Belarus Seeks Chinese Aid as Devaluation Looms

With the impending possibility of the country’s second currency devaluation, Belarus has decided to partner up with China to stimulate its dwindling economy, a news report said Tuesday.

The partnership between the two countries was kickstarted with a three day visit of President Alexander Lukashenko to Beijing on Monday, Kommersant reported.

With an injection of trade from China, Belarus may be able to prevent an economic collapse. In return, China will receive free access to the Russian market through Belarus’ membership in a customs union with Russia.

Experts believe that Belarus’ “strategic partnership” with China is seen as an alternative to Russian aid.

“If in 2011 Russia saved Lukashenko from the effects of the devaluation, this time around, in the case of a repeated devaluation shock, there is no guarantee that Moscow will give support,” said Andrei Suzdaltsev, a professor at the Higher School of Economics.

Suzdaltsev added that the partnership is Belarus’ way of provoking a competitive rivalry between China and Russia that would result in Belarus receiving financial support from both countries.

On Monday, Lukashenko met with Chinese government officials, including President Xi Jinping and Prime Minister Li Keqiang. During the three-day visit more than 20 agreements, documents and protocols are expected to be signed regarding trade and investment. The two countries will also issue a joint declaration outlining their relationship.

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more