China-Russia Relationship: Assessing the Power Asymmetry

Published September 3, 2024

Executive Summary

This discussion document examines Russia’s relationship vis-à-vis China on three parameters: diplomatic ties, economic ties and defence ties. It further investigates the extent of Moscow’s dependence on Beijing.

The paper finds that while there exists deep strategic alignment between the two countries, Russia significantly depends on China’s diplomatic and financial resources to realise its geopolitical goals. Further, China has replaced the EU to emerge as Russia’s top economic partner as Western sanctions have tightened.

Consequently, Moscow has grown increasingly dependent on Beijing to sustain its economy. Military and defence ties are relatively more symmetric as compared to their diplomatic and economic ties. At the people-to-people level, there exists a greater level of trust between the two countries. Overall, while the China-Russia relationship remains solid across all four fronts, Russia's growing dependence on China is alarming, especially for India.

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