Instead of heeding that advice, China on Tuesday welcomed Putin to Beijing with open arms, in the Russian leader’s first major visit abroad since the International Criminal Court accused him of committing war crimes in Ukraine. China meanwhile imports huge volumes of Russian oil and gas, purchases that help fill Moscow’s financial coffers. This week, Putin is in Beijing to lend his support to Xi’s signature Belt and Road Initiative, which for the past decade has used railroads, ports and other projects to expand Chinese economic influence abroad. US officials are skeptical of the Chinese initiative, in part due to the high levels of debt that Beijing has heaped on some participant countries. Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!"

Source: Wall Street Journal October 17, 2023 05:01 UTC