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