At the same time, China will be
increasingly doing more business with the GCC. The
GCC is increasingly importing more from Asia --
although the top source of imports is still the
European Union. Meanwhile, US-GCC trade is
dropping. By 2025, China will be importing three
times more oil from the GCC than the US. No wonder
the House of Saud -- to put it mildly -- is terribly
excited about Beijing.
So for the moment
we have the pre-eminence of NATOGCC military, and
USGCC geopolitically. But sooner rather than later
Beijing may approach the House of Saud and quietly
whisper, "Why don't you sell me your oil in yuan?"
Just like China buying Iranian oil and gas with
yuan. Petro-yuan, anyone? Now that's an entirely
new Star Trek.
myth of an isolated Iran Asia Times Online,
2. See here.
Cross-posted from Asia Times
1 | 2 | 3
|The views expressed in this article are the sole responsibility of the author
and do not necessarily reflect those of this website or its editors.