Prospects of China-Mongolia-Russia trade in the light of the COVID-19 pandemic

Xiujie Zhang

Abstract


Relevance.  China, Mongolia, and Russia are among each other’s major trade partners. The COVID-19 pandemic has had a large impact on global trade, which creates the need to analyze further prospects of the trilateral cooperation between China, Mongolia and Russia.

Research objective. This study aims to analyze China-Mongolia-Russia trade cooperation in the context of the COVID-19 pandemic.

Data and methods. This article applies a comparative analysis method to examine the development and changes in import and export trade between China, Mongolia, and Russia before and after the beginning of the project of the China-Mongolia-Russia Economic Corridor, from 2014 to 2020. The research relies on the data from the China Trade and Foreign Economy Statistical Yearbook, Northeast Asia Economic Statistics of Sea of Japan Economic Research Institute, Ministry of Commerce of the People's Republic of China, Russian Customs, and National Bureau of Statistics of Mongolia.

Results. Along with the realization of the medium and short-term goal of raising the volume of trade turnover within the Corridor, the three countries seek to play more and more important roles as each other’s trade partners. It is observed that the impact of the COVID-19 pandemic on the volume of trade has not been significant, and thus the fundamental premises of trilateral trade cooperation have remained largely unchanged.

Conclusions.  To increase the volume of trade between China, Mongolia and Russia, it is necessary to improve the trade structure, reduce tariffs, establish free trade areas and actively promote the diversification of trade cooperation.


Keywords


China, Russia, Mongolia, China-Mongolia-Russia Economic Corridor, import and export, trade characteristics, COVID-19

Full Text:

PDF

References


Bulma, A.S. (2021). Possibility of Mongolia’s Participation in Economic Cooperation in Northeast Asia. Northeast Asia Development Report (2018–2019). Social Science Archives, 3, 329. doi: 10.19643/j.cnki.naer.2019.0

Guangwei, D. (2016). Analysis on the Potential and Efficiency of Sino-Mongolian-Russia Trade. Xinjiang Agricultural Reclamation Economy, 7, 32–40.

Jin, A., Yulian, H., & Ziyu, Z. (2021). The construction effect of China-Mongolia-Russia Economic Corridor and China’s promotion strategy. Asia-Pacific Economics, 2, 18–26. doi: 10.16407/j.cnki.1000-6052.2

Lijun, F., & Chao, L. (2016).The influence of Russia-Mongolia relations on the construction of the ‘China-Mongolia-Russia Economic Corridor’. Northeast Asian Journal, 2, 17. doi: 10.19498/j.cnki.dbyxk.2016

Nomi, G. (2020). Research on the Impact of Cross-border E-commerce on Sino-Mongolian Trade. E-Commerce, 6, 25. doi: 10.14011/j.cnki.dzsw.2020.0

Ostrovsky, А.В. (2019). Seize new opportunities for future Sino-Russian cooperation with the “Belt and Road” initiative. Proceedings of the 6th Sino-Russian Economic Cooperation High-level Think Tank Forum, 6, 7.

Piping, G. (2019). The characteristics of China-Mongolia-Russia trade cooperation and some thoughts on the next development. Northern Economy, 7, 50.

Qiaoyi, D. (2016). Analysis of the trade complementarity of the China-Mongolia-Russia Economic Corridor. Economic Research Tribune , 26, 140–142.

Qinglong, M.(2020). Thoughts on the construction of the China-Mongolia-Russia Economic Corridor in the post-pandemic era. Practice (Ideological and Theoretical Edition), 10, 28–30.

Qun, Y., & Ge, Z. (2019). Research on trade problems and countermeasures in the construction of China-Mongolia-Russia Economic Corridor. Chinese and Foreign Entrepreneurs, 11, 39–40.

Shilo, R. (2020). Discussion on China-Russia Trade Relations and Countermeasures. Economic Perspective, 3, 102.

Shumin, W., & Rui, D. (2017). The influence of China-Mongolia-Russia trade structure on the realization of the China-Mongolia-Russia Economic Corridor and its countermeasures. Customs and Economics and Trade Research, 38(02), 85–95.

Suslov, D.V. (2019). The status quo and prospects of cooperation between Russia and China in the Far East. Proceedings of the 6th Sino-Russian Economic Cooperation High-level Think Tank Forum, 6, 228.

Tumur, Na. (2021). Mongolia-China Economic Cooperation, Hand in Hand to Silence the Pandemic. Journal of Northeast Asia, 2, 48.

Wei, J. & Yucong, S. (2021). Northeast Economic and Trade Development Facing the ‘China-Mongolia-Russia Economic Corridor’: Basics, Challenges and Paths. Northeast Asian Economic Research, 3, 43–44. doi: 10.19643/j.cnki.naer.2021.0

Wei, L., & Yibing, D. (2016). Analysis on the trade pattern and trade potential of the China-Mongolia-Russia Economic Cooperation Corridor. Business Research, 10, 24–31. doi: 10.13902/j.cnki.syyj.2016.1

Wei, Li. (2019). Analysis of the status quo of trade development in the China-Mongolia-Russia Economic Corridor. Statistics of Inner Mongolia, 12, 14. doi: 10.19454/j.cnki.cn15-1170/c

Xiufang, D., & Ruixin, W. (2021). Research on the characteristics and influencing factors of Sino-Russian trade under the ‘One Belt, One Alliance’ connection. Journal of Xinjiang University of Finance and Economics, 1, 15–17. doi: 10.16713/j.cnki.65-1269/c.2

Xiujie, Z. (2019). The status quo and prospects of the cooperation mechanism between Mongolia and Northeast Asian countries. Northeast Asian Economic Research,5, 52.

Xiujie, Z. (2021). Unblocked Trade Issues in the Construction of China-Mongolia-Russia Economic Corridor. Journal of Harbin Institute of Technology (Social Science Edition), 2, 154. doi: 10.16822/j.cnki.hitskb.202

Yanhua, L. (2019). ‘China-Mongolia-Russia Economic Corridor’ Economic Effect Influencing Factors and Trade Potential Analysis. Statistics and Decision, 3, 154–156. doi: 10.13546/j.cnki.tjyjc.2019

Yingjing, W., Xuefeng, L., & Nan, W. (2017). A Study on the Grassland Silk Road and Sino-Mongolian-Russian Trade Cooperation. Journal of Hulunbuir University, 5, 27–31.

Yixin, Zh., & Nan, Ya. (2021). Research on the international cooperation mechanism for the overall promotion of the high-quality construction of the China-Mongolia-Russia Economic Corridor under the background of the normalization of new crown pandemic prevention and control. Foreign Economic Relations and Trade, 1, 14–18.

Yu, T. (2020). Research on China-Russia Trade Space and Efficiency from the Perspective of China-Mongolia-Russia Economic Corridor. Regional Finance Research, 7, 80.

Zhaoli, W., Yanhong, W., & Guangwen, M. (2016). Trade basis and development suggestions for the construction of the China-Mongolia-Russia Economic Corridor. China National Conditions and National Power, 12, 65–68. doi: 10.13561/j.cnki.zggqgl.2016

Zhihong, C. (2021). Review and analysis of cooperation between Russia and other countries in Northeast Asia from 2018 to 2019. Northeast Asia Development Report, Social Science Literature Press, 3, 41.




DOI: https://doi.org/10.15826/recon.2021.7.3.017

Copyright (c) 2021 Xiujie Zhang

Сertificate of registration media №04-27008 от 28.04.2021
Online ISSN 2412-0731