Development of Trade and Financial-Economical Relationships between China and Russia: A Study Based on the Trade Gravity Model

This article empirically assessed new opportunities and provides a conceptual justification for promising areas of trade financial economic relations between China Russia amidst ongoing global turbulence, the post-COVID situation, sanctions pressure. The study utilized gravity model, taking into account latest trends in development research subject object, as well current challenges economy. revealed similarities political systems, reforms, policies Russia, with centralized power structures overlapping supporting each other at international forums such UNSC. findings suggest that both countries plan to increase volume next two years, focusing more on development, while works promote security stability. valuable insights relationship China, its impact US Europe, highlights need effective policy interventions address posed by this relationship. It offers significant theoretical practical contributions, including potential unlock national economies, their competitiveness help states enter phase advanced sustainable development. several recommendations ensure long-term sustainability foster mutual understanding trust peoples. These include promoting diversification, enhancing cooperation, addressing barriers, strengthening coordination, mitigating negative impacts countries, fostering people-to-people exchanges.