Prime Minister, Vladimir Putin, is embarking on an Asia tour to beef up his country's international profile, as the economy reels from a deep recession amid Western sanctions and a slump in oil prices.
Putin is due to arrive in China this Saturday for an official state visit and a number of business deals as well as cooperation in security and geopolitical arenas are expected to dominate the agenda.

The trip comes on the heels of the European Union's agreement this week to extend energy, financial and defense sanctions on Moscow for another six months in retaliation against the latter's annexation of Crimea in 2014. Washington also maintained its current sanctions program in May.

More than two years of sanctions, combined with sliding crude prices and a crumbling currency have taken a toll on the nation; gross domestic product shrank 3.7 percent in 2015 and the International Monetary Fund (IMF) anticipates a 1.8 percent decline this year.

What Russia wants from China

Increased investment from China will likely be Putin's primary focus as he looks to mitigate Russia's current economic pain.

"Russia is desperate for new partners and markets for its military industry--which China can foster," said Goodrich. At the St. Petersburg forum, Russia signed a string of deals to develop rocket engines, airplane engines and helicopters for China while talks also advanced on potential Chinese participation in a high-speed rail project between Moscow and Kazan.

The visit could also produce insight on the 19.5 percent stake in state-owned oil giant Rosneft, dubbed the crown jewels of Russia Inc, that Moscow is looking to sell. "We need the money," Putin admitted this week after data showed May's federal budget deficit stood at 5.5 percent of gross domestic product, wider than the government's 3 percent target.

What China stands to gain

While Russia's focus remains on trade and military, Xi is likely to concentrate more on geopolitical matters.

"In economic terms, other than energy, Russia is unable to offer much of anything to China," said McNamee. Indeed, steady energy relations will be crucial for Xi after Russia surpassed Saudi Arabia to become China's largest oil supplier in March.

"Of far more importance is the political support Russia offers, regarding foreign policy matters at the United Nations, Group of 20 and other venues ... China, naturally, is happy to have a useful ally as it seeks to reform the existing U.S.-led order to attain its geopolitical goals," McNamee continued.

If only he did not let his pride and ignorance take the better of him during the war against Ukraine in 2014! He wouldn't have had to go through this

read the full gist here..... http://draynehub.com/putin-turn-east-seeks-chinas-help-in-failing-economy/

OK.

now over to our team of analyst in NL.

phveektor:


China, naturally, is happy to have a useful ally as it seeks to reform the existing U.S.-led order to attain its geopolitical goals," McNamee continued.

Unlike our two-faced & double-dealing enemies from the West.