Analysis of the Russian-Chinese economic correlation in the field of foreign trade relations in the pandemic

Abstract

The article deals with the issues of improving analytical support for risk assessment using the SWOT analysis of internal and external environment factors through the example of Russian-Chinese economic cooperation in the field of trade. The analysis of the structural components of the most significant indicators of Russian-Chinese trade flows for the period of 2017-2018, preceding the COVID-19 pandemic, and the dynamics of export-import operations from January 2019 to June 2020 during the introduction of restrictive measures were performed. Besides, the additional impact of the simultaneously developing currency crisis in Russia and possible measures to overcome it at the bilateral level were considered. Based on the indicators of a very rapid return of Russian-Chinese foreign trade relations to close to pre-crisis ones within a short time, it can be assumed that an integrated approach to assessing, planning, and monitoring internal and external risks in the short and long term gives a positive result. Therefore, the traditional analysis of internal factors that are the most predictable and subject to constant control by organisational leadership must be coordinated with a thorough analysis of uncertainty factors, which allows adapting to the rapidly changing business environment as quickly as possible. As a result, the effectiveness of strategic planning and strategic analysis is significantly increased. © The Authors, published by EDP Sciences, 2020.