CNBC is doing their best to downplay and whitewash the threat, however, from the daily headlines one can easily see China along with other nations are undermining the USA’s stability. They’re working on dethroning the Dollar, creating an alternative to the American-led internet, cyber hacking critical infrastructure/financial systems/military networks and so on. America is under full assault and it’s not difficult to see for those who would rather follow the news and not the Kardashians.
Saudi Arabia was already disappointed by the Obama administration’s decision to side with Russia and opt against military strikes on Syria, effectively ending Saudi hopes that the U.S. would turn the tide against the Iran-allied government of Bashar Assad in Damascus.
“The Syrian issue was the straw that broke the camel’s back. The kingdom is concerned that any victory for Assad would boost Iran’s regional influence,” Naser Al-Tamimi, author of “China-Saudi Arabia Relations, 1990-2012: Marriage of Convenience or Strategic Alliance?” explained to CNBC.
“A true relationship between friends is based on sincerity, candor and frankness, rather than mere courtesy,” Foreign Minister Saud Al-Faisal said during a joint news conference.
The latest tensions between traditional allies the U.S. and Saudi Arabia come as the Saudi-China relationship has been growing rapidly in recent years.
In 2009, Saudi exports to China exceeded those to the U.S. for the first time. That comes as U.S. oil imports are expected to fall overall, thanks to its own domestic energy boom.
Chinese investments in Saudi Arabia are on the rise too: China has spent massively on oil refineries in Saudi Arabia and even signed a nuclear cooperation agreement with the desert kingdom.
However, a full swing by the OPEC’s top exporter toward China is complicated by the fact that oil is still priced in U.S. dollars, and Saudi Arabia’s currency is pegged to the greenback. The Saudis have also invested billions of dollars of oil revenue in U.S. Treasury bonds over the years.
Moreover, the Chinese didn’t help their own cause with the Saudis when they blocked United Nations Security Council resolutions against Syria and Iran.
Full article: Saudi Arabia chases closer ties with China amid US tension (CNBC)