Thursday, July 12, 2018

Pepe Escobar — China’s silky charming of Arabia

President Xi Jinping has promised more than $23 billion in loans and aid to Arab states, as Beijing ramps up ties with the Middle East; this includes aid for Palestine; Beijing foresees importing a whopping $8 trillion from Arab states up to 2025.
Asia Times
China’s silky charming of Arabia
Pepe Escobar

1 comment:

Konrad said...

This is another step in China’s inexorable rise to world power.

The Western Empire says, “The Chinese have offered loans to the oil sheiks? That’s our territory!”

The Gulf monarchies are even more dependent on oil exports than is Venezuela. (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates.) Because of the fall in oil prices, they have spent most of their foreign currency reserves in order to keep buying imports. Oil prices have partially recovered, but the Gulf States’ economies are still weak.

Now comes China with offers of loans. This is big.

“Beijing will offer $15 million in aid for Palestinian economic development…”

There is little chance of any money reaching the Palestinians, who are prisoners of foreign occupiers (i.e. the Jews). All foreign aid to Palestinians must go through the Israelis, who consider all their Palestinian victims to be “terrorists.”