China's economic decline: the impact of Russia's support in the war with Ukraine and the role of sanctions
China's decision to offer diplomatic and economic support to Russia during its war in Ukraine led to severe consequences, the consequences of which were felt by the Chinese economy. As global sanctions targeting Russia indirectly affect China's own economy, Beijing is facing increasing pressure to mitigate the downturn with aggressive fiscal measures. China's banks have responded by cutting lending rates, but is that enough to stop the country's economy from going deeper into recession? The weight of sanctions on China's economy Although China is not a primary target of Western sanctions, China's close trade ties with Russia have put its economy in a precarious position. Sanctions imposed on Russia, particularly in the energy, financial and technology sectors, have trickled down to China through their economic partnerships. Many Chinese companies doing business with Russia now face disruptions in global supply chains, shrinking export markets and increased scrut...