China's Xi to visit Riyadh as Saudi Arabia seeks to expand international reach

1 year ago 76

Chinese person Xi Jinping

Getty Images

Chinese President Xi Jinping volition beryllium successful Saudi Arabia connected Wednesday to be the archetypal China-Arab States Summit and the China-Gulf Cooperation Council Summit successful Riyadh, according to the Ministry of Foreign Affairs successful China.

The visit, which volition span 3 days, followed an invitation from Saudi Arabia's King Salman, and volition beryllium attended by different Arab heads of state.

related investing news

Deutsche Bank upgrades Estee Lauder, says cosmetics banal  volition  get   a boost from China reopening successful  2023

CNBC Pro

"Close relations betwixt the 2 countries were initiated 80 years ago, encompassing assorted aspects of practice and development," the authoritative Saudi Press Agency said successful a statement Tuesday.

Saudi Arabia was the largest lipid importer for China successful 2021, accounting for 17% of the Asian giant's lipid imports.

"The optics of a hospitable kingdom welcoming Xi and inviting big of US partners successful the Middle East volition beryllium important," Eurasia Group's analysts wrote successful a note.

"Saudi Arabia volition follow a akin exemplary to US President Joe Biden's sojourn past July, presenting itself arsenic the determination hub for heavyweight geopolitical meetings," they said.

Strained U.S.-Saudi relations

Saudi Arabia reaffirms its narration   with China arsenic  Washington accuses the kingdom of playing politics

"Riyadh sees a geopolitical bid that is mostly successful flux, with an accidental to heighten its leverage successful the planetary system," Eurasia said.

Saudi's enactment has assessed that its interests are served done broadening the kingdom's planetary partnerships, they said, adding that it includes relations with "the UK, France, Germany, Greece, and Spain connected the European side, Russia connected the vigor front, and galore Asian countries connected the economical front."

Expect 'pomp and circumstance'

Eurasia expects Xi's sojourn to beryllium "full of pomp and circumstance" and the code apt to beryllium "much much positive."

"Nevertheless, the narration inactive has a agelong mode to spell if it is to go arsenic heavy and nuanced arsenic Saudi-US ties," the analysts stated.

Despite ongoing U.S.-Saudi tensions, Riyadh inactive views Washington arsenic its preferred information partner, Eurasia elaborated.

"However, Saudi Arabia volition question to heighten its subject ties with China and different planetary arms suppliers arsenic U.S. legislature obstacles to weapons income person created concerns successful the kingdom."

In a separate survey by Eurasia, much than two-thirds of respondents — astir 70% of the 2,000 voting-age Americans surveyed — accidental they reason continued U.S. arms income to Saudi Arabia.

Read Entire Article