Xi Hosts Arab Leaders as China-Mideast Ties Widen Beyond Trade
6 months, 3 weeks ago

Xi Hosts Arab Leaders as China-Mideast Ties Widen Beyond Trade

Live Mint  

President Xi Jinping will meet Arab leaders this week seeking deeper ties in a region where China does plenty of business — and increasingly diplomacy, too. The UAE plays a “key role in the Belt and Road Initiative” – Beijing’s global infrastructure drive – and has more than 6,600 Chinese brands registered in the country, Bloomberg Intelligence wrote last week. Saudi Arabia attracted $16.8 billion in greenfield investment from China in 2023, including in the auto and semiconductors industries, Arab News reported in April citing a study by the Dubai-based bank Emirates NBD. The UAE’s top artificial intelligence firm, G42, recently agreed to divest from China and pivot to American technology, signing a $1.5 billion accord with Microsoft Corp. Saudi Arabia’s $100 billion AI fund signaled it’s willing to do the same. “The Gulf is moving from strategic hedging in the tech sphere to strategic alignment with the US,” said Ahmed Aboudouh, an associate fellow at UK thinktank Chatham House who also heads China research at the UAE’s Emirates Policy Center.

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