Crown Prince Mohammed bin Salman welcomed Xi Jinping to Riyadh (YouTube screen grab).
Thomas Lifson, American Thinker: China is moving in to replace the US with Gulf oil monarchies
It's hard to overstate the potential impact of a move underway that — thanks to Biden's catastrophic diplomacy — could result in China replacing the U.S. as a security guarantor with the petro-monarchies that control so much of the world's oil reserves.
Oil-rich gulf monarchies are leveraging their wealth to deepen ties with China amid anxiety about the future of their longstanding security partnership with the US.
Seven months after President Xi Jinping participated in the first China-Gulf summit in Riyadh, economic exchanges between the world's second largest economy and nations like Saudi Arabia and the United Arab Emirates have been accelerating — moving well beyond crude purchases where Beijing has been dominant for years.
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WNU Editor: This Bloomberg article is a must read .... Middle Eastern Wealth Flows to China Amid Anxiety About US Ties (Bloomberg).
3 comments:
Arabs smell blood and are avoiding risk by hedging their bets
Oil will be dominate in the world for many years to come regardless of some countries climate policies.
1) China has the ships, the fleet.
2) Congress does not want to fund a fleet.
3) So this happened.
China might have severe financial and demographic problems, but this alliance might be enough to float it.
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