Archives Economics - Page 5 of 24 - New Eastern Outlook

For the past several years, the Middle East has been China’s key trading hub, not least because of more than 70 per cent of the oil that Beijing imports from here. Between 2017 and 2022, China’s bilateral trade with this region jumped from US$262 billion to US$507 billion. In 2022 alone, the region saw its trade with China jumping by more than 27 per cent. This was the largest increase in China’s trade compared with other regions, such as the ASEAN.

According to the assessment of the OXFAM International Foundation, which deals with the social contradictions between rich and poor, the biggest and most dangerous topic for all mankind is the explosive growth of inequality. Evidence shows that today’s labour struggles in a wide range of countries, whatever their slogans, are ultimately attributable primarily to the widening income gap between rich and poor.

Russia and its peoples are blessed by providence; the huge landscape and the rich abundance of all kinds of natural resources are now and have always been a source of Russia’s power and prestige. History reveals that the sizeable landscape not only provides resources, but is also a great source of Russia’s natural defence against aggressors. However, besides these natural blessings, Russia’s belligerent neighbours have always tried to contain Russia’s ascent towards progress and prosperity.