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Describe economic change in Russia and China since 2000. Pay attention to the current account balance...

Describe economic change in Russia and China since 2000. Pay attention to the current account balance and exchange rates. Has exchange moved in the right direction given the current account ?

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Russia andChinaboth have enjoyed higher competitive advantage mainly due to higher trade policy regime, devaluation of Yuan, multiple terms of Vladimir Putin and Xi Xinping, BRICS Summit and Collaboration, high skilled labor with low wages, etc.

The Yuan however has devalued against Dollar due to rounds of devaluation but higher exports across globe has widened its current account balance.

Russian ruble however hasbeen stable but its current account balance has improved due to higher exports of defence goods.

Exchange rates for China has moved in opposite direction whilst that in Russia in same direction.

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