Economic security

Can Russia Piggyback on China’s ‘String of Pearls’?

Those lucky enough to visit St. Petersburg in the waning days of the Soviet Union often experienced the curious existence of old, imperial restaurants at the end of empire. Inevitably a waiter would approach with menus running page after page. When the time came to order, however, the waiter would merely ask “meat or fish?” and shatter the decadent illusion of choice. Russia’s strategic menu suffers from a similar duopolistic malaise. Energy and arms are the meat and fish on offer. There aren’t many other options worth much.

For all that Russia has ostensibly done to spite the West and regain its seat at the table of great powers, China is the one with the strategic initiative in the Asia-Pacific. With or without any policy depth, Russia’s energy firms have pivoted to Asia because it’s where the action and demand are. While China can afford to throw money at various infrastructure initiatives, Russia can pick its spots in trying to strategically free-ride on growing energy demand to gain a toehold here and there. The China-Pakistan Economic Corridor (CPEC) and regional energy and political dynamics around it have proven to be an opportunity for Russia.