CHINA-RUSSIA TRADE SHRINKS

The most important Asia-Pacific story is the first annual decline in China-Russia trade since 2020, signaling a pause in one of the region’s most significant post-Ukraine-war economic realignments. Total bilateral trade fell 7% to $227.6 billion, with both Russian exports to China and Chinese shipments to Russia declining. The trend matters because it affects regional sanctions pressure, energy flows, and China’s balancing act between strategic partnership and economic caution. More broadly, the Indo-Pacific remains defined by intensifying great-power competition, tighter security alignments, and growing concern over trade resilience and maritime security.