: China’s increasing economic influence in the Gulf states threatens the West’s foothold in the region #IndiaNEWS At the end of November, UK Prime Minister Rishi Sunak announced that the “golden

China’s increasing economic influence in the Gulf states threatens the West’s foothold in the region #IndiaNEWS
At the end of November, UK Prime Minister Rishi Sunak announced that the “golden era??? between Great Britain and China was over. China may not have been too bothered by this news however, and has been busy making influential friends elsewhere.In early December, Chinese president Xi Jinping met with the Gulf Cooperation Council – a group made up of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates – to discuss trade and investment. Also on the agenda were talks on forging closer political ties and a deeper security relationship.This summit in Saudi Arabia was the latest step in what our research shows is an increasingly close relationship between China and the Gulf states. Economic ties have been growing consistently for several decades (largely at the expense of trade with the US and the European Union) and are specifically suited to their respective needs.Simply put, China needs oil, while the Gulf needs to import manufactured goods including household items, textiles, electrical products and cars.China’s pronounced growth in recent decades has been especially significant for the oil rich Gulf state economies. Between 1980 and 2019, their exports to China grew at an annual rate of 17.1%. In 2021, 40% of China’s crude oil imports came from the Gulf – more than...Read more

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