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The increase of the Arab global and China are a part of a similar tale, as soon as buying and selling companions through the Silk highway. It isn’t a twist of fate that Arab investors have back to China whilst that China is quick regaining its proportion of the worldwide economic system. This is a leap forward account of ways China is spurring development within the Arab global.
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Additional resources for The New Silk Road: How a Rising Arab World is Turning Away from the West and Rediscovering China
19 China had signed a number of agreements with Saddam Hussein’s regime in the 1990s, including an agreement about the Al Ahdab field in southern Iraq. But the new Iraqi government effectively put these agreements on hold while rewriting its oil laws. 21 Saudi Arabia ranks number one. It also has good reason to want a stronger relationship with China. Saudi Arabia is worried 33 34 The New Silk Road by its near seventy-year dependence on America. It was American oil firms, such as the Standard Oil Company of California, which financed the early expansion of Saudi oil production after oil was discovered in the 1930s.
It is a handsome profit margin and it’s no surprise that Chinese traders are traveling to developing economies, such as Syria, to sell their goods. Zhou and her partners will eventually face fierce competition as more Chinese goods flood the market, but for the time being, profit margins are wide. Zhou and China City are no exceptions. There are copy-cat versions of China City dotted across the Arab world. But like the Arabs in Yiwu, these places are largely unobserved in America and Europe. They all share similar features.
But you won’t find thousands of Chinese traders selling goods in local markets in Cairo and Riyadh. Most traders are operating through official channels, such as the China Cities in Dubai or Syria, or meeting Arab buyers through the Internet and making periodic visits to the Arab countries in order to display their products at trade fairs. The Internet is especially popular among Chinese traders. In fact, the largest trading website has ironically taken its name from the Arab world. The Arab World Rediscovers China Alibaba is just one of the tales in the book A Thousand and One Nights.