DAILY BASKET – NEWS COMMENTARY
China’s Balancing Act
MARSAL COMMENTS: Saudi Arabia’s King has signed US$ 65 Bill of joint projects with China during his visit. Saudi is already the biggest or second biggest supplier of oil to China and it has many investments and joint projects there.
However, China is also close to Iran, Syria, and Israel’s PM Netanyahu is due to visit next week. Obviously, China has mastered the art of political and economic juggling.
NEGATIVE FOR: US, as Saudi is beginning to spend money elsewhere as well as buy foreign weapons (Chinese Drones).
POSITIVE FOR: Saudi and China.
IMPACT POTENTIAL: Medium
TIME SCOPE: Medium Term