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TASS | Yu Miaojie: ASEAN Takes Top Spot as China’s Primary Trading Partner

Recently the Russian news agency TASS interviewed Professor Yu Miaojie, President of Liaoning University. The article is as follows:

 

ASEAN Takes Top Spot as China’s Primary Trading Partner

—   Expert

“The trade and economic structure of China will go through adjustments and changes owing to trade relations between China and the US becoming more complicated by the day, along with Sino-European relations becoming increasingly sensitive.”

-        Yu Miaojie

VLADIVOSTOK, September 11. /TASS/. Member-states of the Association of Southeast Asian Nations (ASEAN) have become the main economic and trade partner of China and have outpaced the US and the European Union, Rector of Liaoning University Yu Miaojie told TASS on the sidelines of the 8th Eastern Economic Forum (EEF).

The trade and economic structure of China will go through adjustments and changes because trade relations between China and the US are becoming more complicated by the day, with Sino-European relations becoming increasingly sensitive, the expert noted.

“ASEAN countries have already substituted the United States and the European Union as the largest economic and trade partner of China,” Yu said. “BRICS, which will expand soon, will also be among China’s major trade partners. The scale of trade between the China and the US can be at the second or the third place in terms of the volume in the future,” he added.

The trade between Russia and China will grow further, the expert noted. “I believe the trade turnover between China and Russia will continue its growth. The share of Russia in China’s foreign trade will expand, and China’s share in the economic space of Russia will grow. The trade and economic cooperation remains in the best interests of the two nations,” Yu said.

The 8th Eastern Economic Forum is being held in Vladivostok on September 10-13, 2023. The slogan for this year’s forum is “On the Path to Partnership Peace and Prosperity.” The Roscongress Foundation is the event organizer. TASS is EEF’s general media partner.


Read the article here: https://tass.com/economy/1672419