Russia might have thousands of nuclear weapons and could yet blow up and the world in an instant. But it is not Russia’s rusty nuke arsenal that keeps Americans awake at night. It is China’s ability to threaten mutually assured financial destruction that makes the Anglo-Saxons nervous. It is no secret that only the Chinese have the clout to negotiate with the Americans on global financial system. Why should any one expect Beijing to dilute its own power by sharing it with the rest of the BRICs?

The Han and the Slavs

If BRICs is Russia’s baby, the Shanghai Cooperation Organisation is the only international forum that has been founded by China. Beijing’s objective was simple — to stabilise its distant western frontiers by engaging the Central Asian neighbours.

For China, Russia was a useful partner in Eurasia. Neither of them wants an expansion of US influence in inner Asia. Nor do Beijing and Moscow take kindly to Washington’s half-baked efforts at promoting democratic revolutions on their borders. Like all else in world politics, the recent convergence of the Han and Slav interests in Eurasia is not permanent.

As China becomes stronger than Russia, Moscow will necessarily have to rethink its ties to Beijing and Washington.As it serenades the disparate bunch from SCO and BRICs in Yekaterinburg this week, Russia is gearing up to receive President Obama in Moscow next month. Obama’s promise to ‘reset’ relations with Russia has boosted Moscow’s hopes for a renewed partnership with Washington. It is not for nothing that Russia’s national symbol is an eagle with two heads — one looking east and the other looking west.

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