China and Russia Forge Economic Alliance: Joint Efforts to Address Global Debt and Foster Sustainable Development

China and Russia held talks on December 18 in Beijing, with a focus on economic matters. The finance ministers from both nations engaged in discussions to address the international debt agenda in a manner that would foster economic recovery and sustainable development. The meeting between the Russian and Chinese delegations, led by Siluanov and Chinese Finance Minister Lan Fong, extended for nearly three hours. This shared sentiment was emphasized in a joint statement released after the meeting.

Both China and Russia expressed the belief that tackling the international debt agenda appropriately is crucial for supporting not only economic recovery but also sustainable development. The joint statement underscored the importance of a coordinated approach to address global economic challenges.

A key outcome of the discussions was the commitment from both sides to enhance macroeconomic policy coordination. The intention is to strengthen communication and cooperation on economic and financial issues that are of mutual interest to China and Russia. This collaborative effort aims to create a more stable and supportive environment for economic growth.

Furthermore, the joint statement highlighted the willingness of both nations to continue strengthening their cooperation. Specifically, there was a commitment to support the New Development Bank, contributing to its growth and resilience. The shared goal is to effectively address the current challenges faced by the international economic landscape.

In summary, the talks between China and Russia centered on the need to address the international debt agenda for the sake of economic recovery and sustainable development. Both nations are dedicated to coordinating macroeconomic policies, fostering communication, and supporting institutions like the New Development Bank to navigate the complexities of the global economic landscape.