US withdrawal from Middle-East owing to strategic preoccupation to strengthen its commitment towards Asia Pivot will allow Beijing to further explore its interest in the region, according to a report.
American proponents of abandoning the Persian Gulf often cite the need to pivot to Asia. However, Washington's regional retreat may achieve the exact opposite of U.S. objectives, ultimately emboldening and empowering China, according to National Interest.
Further, in early January this year, the foreign ministers of Saudi Arabia, Kuwait, Oman, Bahrain, and the Islamic Republic of Iran travelled to China in the span of a week to strengthen their ties with the Chinese Communist Party. China, the emerging global superpower, has become the number one trading partner for these nations, thereby deepening Beijing's political influence in the Middle East.
Over the last decade, on average, China imported half of its oil from the region. In 2020, China imported USD 82.6 billion of oil from Persian Gulf countries. Unlike Western democracies, China is in no rush to divest from fossil fuels. As the demand for Persian Gulf oil fades in the West, Chinese imports play an even more critical role in the region's economic life, writes Saeed Ghasseminejad National Interest.
According to the World Bank, in 2000, trade between Saudi Arabia and the United States was USD 20.6 billion. Twenty years later, in 2020, it was USD 20.1 billion. By contrast, the trade between China and Saudi Arabia grew from USD 3.1 billion in 2000 to USD 67.1 billion in 2020.
The contrast becomes more evident in light of the disparities among American, Chinese, and Saudi Arabian imports and exports. U.S. exports to Saudi Arabia rose from USD 6.2 billion in 2000 to USD 11.1 billion in 2020, while its imports dropped from USD 14.4 billion in 2000 to USD 9 billion in 2020. China's exports to and imports from Saudi Arabia have risen from under USD 2 billion each in 2000 to USD 28 billion in exports and USD 39 billion in imports in 2020.
The picture is clear: Chinese and Persian Gulf economies are becoming more integrated, while regional and US economic interests are on diverging paths, writes Saeed Ghasseminejad National Interest.
( With inputs from ANI )
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