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National Interests: Priorities and Security
 

Russia's position in the economic relations of the USA and China

Vol. 17, Iss. 6, JUNE 2021

Received: 15 February 2021

Received in revised form: 5 March 2021

Accepted: 20 March 2021

Available online: 15 June 2021

Subject Heading: INTERNATIONAL ECONOMIC RELATIONS

JEL Classification: F01, F02, F10, F20, F21, F29

Pages: 1156–1178

https://doi.org/10.24891/ni.17.6.1156

Valerii V. SMIRNOV I.N. Ulianov Chuvash State University (ChuvSU), Cheboksary, Chuvash Republic, Russian Federation
v2v3s4@mail.ru

https://orcid.org/0000-0002-6198-3157

Subject. The article discusses the international economic relations.
Objectives. I determine Russia's position in the economic relations of the USA and China.
Methods. The study is based on the systems approach and the method of statistical, neural network and cluster analysis.
Results. I discovered the persisting dominance of the USA over the world economy due to a growth in broad money supply, which makes it the leader in food exports, trade balance and industrial exports. The same reasons helps the USA constrain some material aspects of economic growth in Russia and China, such as inflation, direct foreign investment, ultimate consumption spending, real interest rate, the ratio of broad money supply to total reserves, total value of traded stocks, export of food, goods and services. Trends in SPX, SHCOMP, RTSI и DXY, USDRUB, USDCNY, USDBRO shows that China strives to reach the U.S. economic level given the stable exchange rate. Raising USDRUB, Russia approaches DXY. In case of low USDBRO, RTSI growth will be significantly curbed. Considering commodities within foreign trade between Russia, the USA and China, I should point out resource exports, while importing technology from the USA and equipment from China.
Conclusions and Relevance. Studying Russia's position in the U.S.–Chinese economic relations, I found that the Russian government should revise foreign trade priorities to end the political and economic independence on the above relations. The findings contribute to the knowledge and competence of the Russian government members for making complementary administrative decision on sources of foreign trade and seizing opportunities for encouraging it.

Keywords: U.S.-Chinese economic relations, exchange rate, foreign trade, import of machinery and technology, resource export, administrative decision

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