In Russia, Chinese products are replacing Russian-made ones Germany or South Korea. In the second quarter of the year, the best-selling smartphones were those of the Chinese Xiaomi, at the expense of Samsung and Apple. Auto imports from China accounted for 81% of the total, compared to 28% in the first quarter of the year. Demand for Chinese televisions has doubled. Overall, the value of Chinese exports to Moscow has increased in just a few months from 4 to 7 billion dollars. Some figures are compiled by the Bloomberg agency, which reports how Chinese companies are filling the gaps left by the exodus of Western companies from Russia.
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The Weekly Economist on sanctions against Russia: “Things are not going as hoped, Moscow is doing better than expected”
The agency quotes the words of a Moscow entrepreneur who bought a Chinese car: “Except for Chinese cars, there is nothing at the dealerships, but the choice remains relatively large and, surprisingly, the quality of the cars is very good.” Movements in the market that used to get old compressed into months, in Moscow’s attempt to replace supplies from Western countries as quickly as possible. The auto sector collapsed after major European brands abandoned Russian factories, but the Central Bank of Russia reports “sentiment” among industry operators positive in August, for the first time since the beginning of the war. With the growing role of China, the use of the yuan in exchanges between the two countries it previously was has also increased often billed in euros.
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After six months of war (and sanctions) in Russia there is a lack of raw materials. From meat to handkerchiefs to medicines: people are looking for alternatives
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