Middle Eastern Wealth Flows to China Amid Anxiety About US Ties
- Deals between China and Gulf rising after Xi’s December visit
- Relationship is widening into areas well beyond oil purchases
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.