Guest
#china #saudiarabia #chinanews #project #usa As one of the largest economies in the Middle East, Saudi Arabia has chosen to stay away from Western countries in recent years and gradually move closer to China. The most important reason, I think, is what the Saudi Energy Minister said: “In the future, only by cooperating with China can we realize our interests to the greatest extent, while cooperating with Western countries may limit our development space.“ Today, Saudi Arabia is the largest beneficiary of China's investment in the Middle East. From 2005 to 2021, the total investment between the two sides has exceeded 40 billion US dollars. In this context, Saudi Arabia has also signed a series of important cooperation agreements in return for China's efforts. Just recently, on the first day of the 10th Entrepreneur Conference of the China-Arab States Cooperation Forum, China and Arab countries signed more than 30 strategic investment agreements with a total value of 37.5 billion Saudi riyals, equivalent to more than 10 billion US dollars. These investments cover a wide range of sectors including renewable energy, agriculture, real estate, mining, supply chain, tourism and healthcare. However, today we mainly discuss two of the most eye-catching projects: one is a copper mine project worth up to 800 million U.S. dollars, and the other is that China will invest 530 million U.S. dollars to build a steel plant project in Saudi Arabia. So in the future, what impact will these two projects have on China and Saudi Arabia? ---------------------------------------------------------------------
