China pledges $20 billion in loans for Arab states

[somebozo]

China pledges $20 billion in loans for Arab states

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Kuwaiti ruling Emir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, right waves after giving a speech as China's President Xi Jinping looks on during the 8th Ministerial Meeting of China-Arab States Cooperation Forum in Beijing on Tuesday, July, 10. (AFP)

2 / 2
Since taking office, Chinese President Xi Jinping has overseen a concerted effort to expand Chinese influence in the Middle East and Africa, including the construction of the country’s first military base in Arab League state Djibouti. (AFP)
Updated 21 sec ago
AFP
July 10, 201804:29
1566

• Beijing is also prepared to provide another one billion yuan to countries in the region to “build capacity for stability maintenance”
• The Arab states’ position at the center of the ancient trade route makes them “natural partners” in China’s new undertaking

BEIJING: China will provide Arab states with $20 billion in loans for economic development, President Xi Jinping told top Arab officials Tuesday, as Beijing seeks to build its influence in the Middle East and Africa.
The money will be earmarked for “projects that will produce good employment opportunities and positive social impact in Arab States that have reconstruction needs,” said Xi, without providing further details.
It is part of a special Chinese program for “economic reconstruction” and “industrial revitalization,” Xi told participants at a China-Arab States forum in Beijing’s Great Hall of the People.
Beijing is also prepared to provide another one billion yuan to countries in the region to “build capacity for stability maintenance,” Xi said, using a term commonly associated with policing and surveillance.
Since taking office, Xi has overseen a concerted effort to expand Chinese influence in the Middle East and Africa, including the construction of the country’s first military base in Arab League state Djibouti.
China has already provided vast sums to Arab countries, with Djibouti alone owing some $1.3 billion, according to estimates from the US-based China Africa Research Initiative.
The financial largesse has raised concerns both at home and abroad over the vulnerability of poor nations to such massive debt.
Last year Sri Lanka was forced to hand over majority control of its Hambantota port to China after being unable to repay its loans.
At the heart of Xi’s vision is the “Belt and Road” initiative, a $1-trillion infrastructure program billed as a modern revival of the ancient Silk Road that once carried fabrics, spices and a wealth of other goods between Asia, Africa, the Middle East and Europe.
The Arab states’ position at the center of the ancient trade route makes them “natural partners” in China’s new undertaking, he said, adding he expected the summit would end with an agreement on cooperation on the initiative.
“Chinese and Arab peoples, though far apart in distance, are as close as family,” he said, describing a romanticized history of trade along the Silk Road.
The project, which has already financed ports, roads and railways across the globe, has spurred both interest and anxiety in many countries, with some seeing it as an example of Chinese expansionism.
“China welcomes opportunities to participate in the development of ports and the construction of railway networks in Arab states” as part of a “logistics network connecting Central Asia with East Africa and the Indian Ocean with the Mediterranean,” said Xi.

 

[dani191]

what is the interest?

 

[Saif al-Arab]

China pledges $20 billion in loans for Arab states

1 / 2
Kuwaiti ruling Emir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, right waves after giving a speech as China's President Xi Jinping looks on during the 8th Ministerial Meeting of China-Arab States Cooperation Forum in Beijing on Tuesday, July, 10. (AFP)

2 / 2
Since taking office, Chinese President Xi Jinping has overseen a concerted effort to expand Chinese influence in the Middle East and Africa, including the construction of the country’s first military base in Arab League state Djibouti. (AFP)
Updated 21 sec ago
AFP
July 10, 201804:29
1566

• Beijing is also prepared to provide another one billion yuan to countries in the region to “build capacity for stability maintenance”
• The Arab states’ position at the center of the ancient trade route makes them “natural partners” in China’s new undertaking

BEIJING: China will provide Arab states with $20 billion in loans for economic development, President Xi Jinping told top Arab officials Tuesday, as Beijing seeks to build its influence in the Middle East and Africa.
The money will be earmarked for “projects that will produce good employment opportunities and positive social impact in Arab States that have reconstruction needs,” said Xi, without providing further details.
It is part of a special Chinese program for “economic reconstruction” and “industrial revitalization,” Xi told participants at a China-Arab States forum in Beijing’s Great Hall of the People.
Beijing is also prepared to provide another one billion yuan to countries in the region to “build capacity for stability maintenance,” Xi said, using a term commonly associated with policing and surveillance.
Since taking office, Xi has overseen a concerted effort to expand Chinese influence in the Middle East and Africa, including the construction of the country’s first military base in Arab League state Djibouti.
China has already provided vast sums to Arab countries, with Djibouti alone owing some $1.3 billion, according to estimates from the US-based China Africa Research Initiative.
The financial largesse has raised concerns both at home and abroad over the vulnerability of poor nations to such massive debt.
Last year Sri Lanka was forced to hand over majority control of its Hambantota port to China after being unable to repay its loans.
At the heart of Xi’s vision is the “Belt and Road” initiative, a $1-trillion infrastructure program billed as a modern revival of the ancient Silk Road that once carried fabrics, spices and a wealth of other goods between Asia, Africa, the Middle East and Europe.
The Arab states’ position at the center of the ancient trade route makes them “natural partners” in China’s new undertaking, he said, adding he expected the summit would end with an agreement on cooperation on the initiative.
“Chinese and Arab peoples, though far apart in distance, are as close as family,” he said, describing a romanticized history of trade along the Silk Road.
The project, which has already financed ports, roads and railways across the globe, has spurred both interest and anxiety in many countries, with some seeing it as an example of Chinese expansionism.
“China welcomes opportunities to participate in the development of ports and the construction of railway networks in Arab states” as part of a “logistics network connecting Central Asia with East Africa and the Indian Ocean with the Mediterranean,” said Xi.

https://defence.pk/pdf/threads/arab-world-and-china-cooperation-and-news.298140/page-8

China has an entire "Arab policy paper". So far the only for a specific region this large. This should tell you how much significance they put into this relationship and vice versa.

I have always said that Arabs and Chinese are natural allies. Most people will realize this if they have not woken up already.

what is the interest?

@SALMAN F

BTW the fusion of Arabic script and Chinese characters is lit. Seen many people using Arabic script as tattoos as well. Many famous people apparently.

Search on Youtube

Arabic Islamic Calligraphy in the Chinese Tradition Demonstration by Master Haji Noor Deen on Vimeo


(Youtube links not working on PDF @WebMaster nor Twitter ones).

 

[cloud4000]

Chinese are welcome in the region. If they can bring peace between Iran and rest of the Sunni states then it's a win-win. US is nothing but trouble in the Middle East, so reducing their influence would be a welcome step.

 

[xyxmt]

what is the interest?

 

[Tristar]

Chinese Give $ , then ask these countries to award contract to chinese ...

Result :- Chinese got $ back with interest. And Also get its factories running the production line..... WIN win..

 

[Cybernetics]

On the humanitarian front, its good that China is contributing to stabilizing certain war torn nations.

Geopolitically the region is undergoing a major shift. US will have less of an incentive to protect global lines of communication like they did before as a global public "good" due to the rise of domestic shale oil (oil independence) and a slight long term re-balancing/retrenchment pushed by domestic incentives, unless it can negotiated to be a profitable affair. At least China doesn't feel comfortable putting its lanes of communication in the hands of the US for the next stage of development.

Being a major importer of oil, China would seek to establish its own security apparatus (will be limited in scope) to protect oil shipments and other traded goods. This would mean a major expansion of its blue water navy that we currently see underway. The build up is paving way for the events that would follow in the next decade.

The Gulf region and other parts of the Arab world hold critical trade choke points that are essential for China's well being and the well being of those within the global trading order. Keeping trade routes open would be essential to development of all. Other nations don't really have to fear China closing off these choke points as it depends on it for trade unlike the US. This also provides the United States a weapon sometime in the future where it could destabilise key energy trade choke points/regions. The US would be largely unaffected (not to the same degree as others) by oil price spikes in the future due to domestic shale oil independence, causing a price divergence between domestic and global oil. National security bills could prevent excessive arbitration of oil price difference (limited oil export as a security leverage for core allies). Thus it would be paramount for China and other Eurasian nations to establish a new security order to defend common interests.

Apart from geopolitics, China does have deep historic ties with the Arab world. Great works of literature and scientific knowledge of the Arab world was absorbed by ancient China. Many Chinese like myself have read Arabic stories grown up. It is a shame that the Bayt al-Hikma was destroyed as a result of war. Restoring the intellectual and knowledge base of the ancient civilizations is essential for restoring these civilizations. No civilization exists in a vacuum, the dynamics of one affects the other. This would be a long process taking possibly centuries. We must be humble and realise how much there is to do.

 

[Saif al-Arab]

On the humanitarian front, its good that China is contributing to stabilizing certain war torn nations.

Geopolitically the region is undergoing a major shift. US will have less of an incentive to protect global lines of communication like they did before as a global public "good" due to the rise of domestic shale oil (oil independence) and a slight long term re-balancing/retrenchment pushed by domestic incentives, unless it can negotiated to be a profitable affair. At least China doesn't feel comfortable putting its lanes of communication in the hands of the US for the next stage of development.

Being a major importer of oil, China would seek to establish its own security apparatus (will be limited in scope) to protect oil shipments and other traded goods. This would mean a major expansion of its blue water navy that we currently see underway. The build up is paving way for the events that would follow in the next decade.

The Gulf region and other parts of the Arab world hold critical trade choke points that are essential for China's well being and the well being of those within the global trading order. Keeping trade routes open would be essential to development of all. Other nations don't really have to fear China closing off these choke points as it depends on it for trade unlike the US. This also provides the United States a weapon sometime in the future where it could destabilise key energy trade choke points/regions. The US would be largely unaffected (not to the same degree as others) by oil price spikes in the future due to domestic shale oil independence, causing a price divergence between domestic and global oil. National security bills could prevent excessive arbitration of oil price difference (limited oil export as a security leverage for core allies). Thus it would be paramount for China and other Eurasian nations to establish a new security order to defend common interests.

Apart from geopolitics, China does have deep historic ties with the Arab world. Great works of literature and scientific knowledge of the Arab world was absorbed by ancient China. Many Chinese like myself have read Arabic stories grown up. It is a shame that the Bayt al-Hikma was destroyed as a result of war. Restoring the intellectual and knowledge base of the ancient civilizations is essential for restoring these civilizations. No civilization exists in a vacuum, the dynamics of one affects the other. This would be a long process taking possibly centuries. We must be humble and realise how much there is to do.
View attachment 485516

Well said.

President Xi Jinping’s 30 minute long speech yesterday during the 8th Arab-Sino summit in Beijing was spot on as well.

On my iPhone outdoors (beach more precisely and I forgot my sunglasses so I am almost blind, lol) otherwise I would have written a more fitting reply for your well-written post.