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china_russiaChinese president Hu Jin Tau is visiting Moscow and the message from meetings there is that bilateral ties need to be encouraged, especially because of the poor economic situation. Trade between the two has fallen  42% over the past year, but the two sides are agreeing to make greater use of their own currencies when trading (not converting to the dollar) and Russia is renewing its efforts to build an oil pipeline to China from Siberia.

Ironic and strange that these formerly communist countries are responding to the downturn by encouraging trade, and in the capitalist west many are calling for trade restrictions.

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