Press service of the Institute of Europe of the Russian Academy of Sciences: “Development of Business Partnership in New Realities”
On April 17-18, 2025, Alexey Gromyko, corresponding member of the Russian Academy of Sciences, Director of the Institute of Europe of the Russian Academy of Sciences, took part in the I Eurasian Financial and Economic Forum “Development of Business Partnership in New Realities” in Shanghai (EFEF-2025).
The Director of the Institute of Europe of the Russian Academy of Sciences moderated the plenary session together with Mr. Li Shuobing, President of the Financial and Business Association of Euro-Asian Cooperation, founder and head of SLC-Rus Corporation. In addition to FBA EAC, the main organizers of the forum were the Russian Union of Industrialists and Entrepreneurs (RSPP) and the Association of Banks of Russia (ABR).
In his opening remarks, Alexey Gromyko noted: ‘The title of the forum uses the symbolic expression “new realities”. In the last three decades, after a series of epochal events, it has been repeatedly stated that we live in “new realities”. With good reason, this can also be said in 2025. An unprecedented tariff war is unfolding. One blow after another is struck to the established global order in the financial, economic and trade spheres. The “rule-based world” turns out to be a world without rules, a world of blackmail and intimidation. On the 16th of April, US Minister of Finance Scott Bessent said he was determined to increase pressure on Beijing; he did not even rule out severing US-China trade and economic ties if, as he put it, the PRC refused to make a “major deal”. The US has been trying to pressure China's close trading partners to isolate the country's economy. This week, Chinese President Xi Jinping called for the protection of the free trade system and the World Trade Organization rules during his visit to Southeast Asian countries. Also, I would like to remind you that the trade turnover between Russia and China reached a record $245 billion in 2024.’
The full version of the article is available on the official website of the Institute of Europe of the Russian Academy of Sciences.