Saudi Arabia sees China as a key partner in a multipolar world — with the two countries expected to only come closer as their common interests grow, Saudi Minister of Investment Khalid Al-Falih told CNBC.
“This is, in a way, a multipolar global order that has emerged — it’s not emerging. China is a significant player in it,” Al-Falih told CNBC’s Dan Murphy during the Arab-China Business Conference in Riyadh Tuesday, now in its 10th year.
A multipolar world in this context signifies a global system that isn’t dominated by the West or defined as a struggle between two major powers, as it was during the Cold War.
“We like to believe, and I think it’s been proven, that the kingdom is a significant part of this multipolar world that has emerged. And we’re going to play our part, not only in developing our own economy, but also developing our region, and spreading what we have in terms of development opportunities, also to Africa, Central Asia, the Indian subcontinent,” he said. “And we believe that economic cooperation between China and Saudi Arabia and the GCC (Gulf Cooperation Council), and the entire Arab region, will be a significant part of that.”
The post-Cold War period saw the United States exist as the preeminent world power, the strongest force on the planet in terms of economic, military, and geopolitical might. The rise of China and the BRICS (other emerging markets that include Brazil, Russia, India and South Africa), as well as anger in many parts of the world over U.S.-led wars and sanctions campaigns, led to increasing calls for a world order in which power was more widely distributed among different countries.
Saudi Arabia, in balancing its friendships with both China and the U.S., sees itself as a part of that. The kingdom has also become a much more active global player, wielding its oil-fueled financial power to supercharge its international trade and investment and gain influence around the world.
“I think significantly, we see opportunities for…
Read the full article here
Leave a Reply