China’s Saudi visit reveals GCC goals for economic alternatives

China’s Saudi visit reveals GCC goals for economic alternatives

Chinese President Xi Jinping arrived in Saudi Arabia today for a three-day visit in which he is expected to discuss prospects for economic and development cooperation with the kingdom and other Arab states via trade and investment in a variety of industries, including non-oil sectors. 

It is the first time in nearly seven years that the Chinese president visits the key energy ally to discuss ambitions for an initial agreement of $29.26 billion, according to the Saudi state news agency. 

Saudi, the world’s largest crude supplier, and China, the biggest energy consumer, are positioned to help each other reach their economic expansion goals.

Beijing steps in

The visit comes as US-Saudi ties have hit an all-time low and China’s influence in the kingdom is growing. Beijing is positioned to fill the shoes the United States appears to be leaving in the Arab world’s largest economy as their 90-year relationship declines. 

US President Joe Biden’s similar but publicly awkward visit earlier in July featured a controversial fist bump with Saudi Crown Prince Mohammed Bin Salman. Since October, Biden has claimed he’ll act “methodically” in dealing with Saudi Arabia, vowing “consequences” after the OPEC leader denied the US president’s request to delay oil output cuts amid the Ukraine war, citing economic