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.
1. See The myth of an isolated Iran Asia Times Online, January 19.
2. See here.
Cross-posted from Asia Times