Russia’s economic plunge leaves China scrambling to redirect exports abroad

China’s carmakers are watching the Russian market fall apart ￰0￱ started as a goldmine after the Ukraine invasion is now a closed ￰1￱ brands rushed in when Western automakers ￰2￱ took over Russia’s showrooms like it was a clearance ￰3￱ in late 2024, Moscow’s new “recycling fee” has jacked up the cost of basic cars, those with one- or two-liter engines, by over $8,000. No warning, no ￰4￱ the same time, Russia’s sky-high interest rates are making it near impossible for buyers to get ￰5￱ result? Russia’s car sales dropped 27% in just six ￰6￱ that’s not even the worst of ￰7￱ of Chinese cars fell 62% during the same ￰8￱ China’s top car brands are already ￰9￱ was the market that helped China grab the crown as world’s largest car exporter in 2023, with nearly 20% of all whole-car exports going to ￰10￱ brands lose grip as Russia pulls back The damage is real.

Geely, one of China’s biggest players, saw its export numbers shrink 8% between January and ￰11￱ Wall Motor barely held its ground; no gain, no loss. That’s a red flag for a company built on ￰12￱ Chery, the country’s top auto exporter, only managed to grow exports by 11%. Sounds okay, until you realize that last year they were growing at 25%. So, that momentum’s gone.

Meanwhile, BYD , China’s biggest seller at home but with no official business in Russia, is now chasing Chery hard. BYD’s overseas sales more than doubled. It’s clear they’re pushing hard into other countries while everyone else is stuck cleaning up the Russia ￰13￱ the story doesn’t end at shrinking exports. China’s factories are choking on overcapacity, and a brutal price war back home is pushing them to offload vehicles anywhere they can.

Russia’s market crash means one less outlet for that ￰14￱ don’t think other countries are just sitting back and ￰15￱ are popping up all over the ￰16￱ regions have already started slapping taxes on Chinese autos to slow the ￰17￱ more China pushes, the more doors close. It’s a bad loop, and Beijing knows ￰18￱ talks Russia war as BRICS gathers for trade fight While China’s automakers get squeezed, global politics are heating up ￰19￱ Trump, back from the ￰20￱ in New York, told reporters on Sunday that European leaders will be flying to Washington early this ￰21￱ reason? “To discuss how to resolve the Russia-Ukraine war,” he ￰22￱ didn’t name ￰23￱ White House stayed silent when asked for more ￰24￱ he made one thing clear, he’s not pleased.

“I’m not happy about the status of the Russia-Ukraine war,” he said, after being asked about the Russian air attack that lit up Kyiv’s government building overnight. Still, Trump’s tone was ￰25￱ repeated that the war “would soon be settled.” On another front, China confirmed that Xi Jinping will join a virtual BRICS summit on September ￰26￱ was called by Brazil’s Lula da Silva, and the agenda is clear; talk about Trump’s trade threats. India’s Prime Minister Narendra Modi won’t attend, but he’s sending a top official in his ￰27￱ has already warned that if they push ahead with plans to dump the U. S.

dollar, he’ll respond with 100% tariffs. China’s Foreign Ministry said Xi will “deliver an important speech” during the online gathering. Russia’s Vladimir Putin will also be there, according to Kremlin spokesman Dmitry Peskov, who spoke last week to Russian news agency Tass. Meanwhile, Brazil is using the summit not just to talk tariffs but to rally other emerging markets behind multilateralism, according to Bloomberg, which cited sources familiar with the ￰28￱ your project in front of crypto’s top minds?

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