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China looks to Saudi Arabia amid shifting sands in US economic ties
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At the 10th Arab-China Business Conference in June, more than 30 deals worth about US$10 billion (S$13.5 billion) were signed.
AFP
Zhang Erchi, Wang Zili and Denise Jia
BEIJING – As tensions between China and the United States show no signs of abating, ensnaring businesses from both countries in a seemingly endless spiral of restrictions and trade curbs, Beijing is looking elsewhere to find opportunities to bolster economic growth and expand its influence in key regions with geopolitical significance.
The most recent example is Saudi Arabia, the world’s second-largest oil producer, where a flurry of political and business exchanges in the past six months represents China’s highest-level diplomatic engagement with Arab nations since the founding of the People’s Republic of China in 1949.
