Chart of the week: two giants cosy up

Chart: Russian-Chinese bilateral trade

The increasingly close commercial relationship between Russia and China is one of the most under-reported of the world’s major trends, says Liam Halligan in The Daily Telegraph.

The links between the world’s biggest energy exporter and its most populous country will have a major impact on the global economy.

Cross-border trade between the two states amounted to just $12bn in 2003. Since then it has jumped more than seven times to $88bn.