| Author | Kowit Wongsurawat |
|---|
President Xi Jinping visits Riyadh Saudi Arabia to attend the summit “China–Gulf States Coalition (TCG)” (The Coalition of Arab Gulf States is made up of Arab countries. 6 The countries are Saudi Arabia, Kuwait, Oman, Qatar, Bahrain and the United Arab Emirates.) along with an official visit to Saudi Arabia 7 Last December and received a huge welcome from Saudi Arabia When Chinese leader’s plane enters airspace Saudi Air Force fighter planes 4 The aircraft immediately lifted off to cover the escort. So, entering Riyadh airspace There is a stunt squadron. 6 Lam takes over. There was a salute of artillery fire. 21 filmed as the plane landed at the airport Saudi planes emit red and yellow smoke It symbolizes the Chinese flag in the sky, a way of welcoming Saudi Arabia normally reserved for the leader of the United States, its most important strategic ally.
Meanwhile, relations between Saudi Arabia and the United States deteriorated sharply when the United States accused the United States of Prince Mohammed bin Salman, Crown Prince of Saudi Arabia Masterminded the assassination of Jamal Khashoggi. Washington Post columnist Saudis routinely criticize the Saudi government, which was prominently displayed to the world five months ago. In the month of July.prof.2565 President Joe Biden attends a smaller Arab summit in Saudi Arabia. Prince Mohammed bin Salman announced before President Joe Biden that he will not increase US-required crude production to save NATO countries from Russia’s shutdown of oil and natural gas shipments. Sold in retaliation to NATO countries helping Ukraine Saudi Arabia also reduced its raw water production after a few months.
President Xi Jinping has appealed to Arab leaders 9 December at the Chinese summit meeting–Gulf States Coalition (TCG) China wants to buy oil and natural gas in yuan to support Beijing’s goals to boost the yuan’s role in the global economy. and reduce reliance on the US dollar Both Saudi Arabia and China made clear official statements during President Xi’s visit. Jinping will adhere to the principle of not interfering in each other’s internal affairs while both 2 These countries are under heavy pressure from the United States on human rights issues. energy policy and relations with Russia In the past, the government of Saudi Arabia and its allies 5 The country has also ignored Washington’s pressure on Arab states to cut cooperation with China and cut ties with OPEC member Russia in response to its war of aggression against Ukraine.
President Xi Jinping stressed that China and Gulf cooperation countries (TCG) China’s oil and gas industry is a natural partner who can help each other promote the development of the oil and gas industry. But Saudi sources who spoke to Reuters ahead of President Xi Jinping’s visit said a limited sale of crude oil in yuan was reasonable. To pay for Chinese imports directly because China actually imports crude oil from Saudi Arabia. 87.56 million tons inside.prof.2564 increased from the previous year, which was at 84.92 million tons, and from January to October this year China imported crude oil from Saudi Arabia 73.76 million tons, assuming China imports most of its crude oil and natural gas from Saudi Arabia. more than imported from Russia
However, Saudi Arabia has yet to move to full acceptance of the renminbi as most of its international assets and reserves remain in US dollars. This includes more US government bonds that Saudi Arabia holds. 120,000 million US dollars
The reason China wants to reduce the US dollar’s political influence is so that the US can continue to use the US dollar as the world’s primary currency, with the US offering sovereignty and security protection to Saudi Arabia. In exchange for Saudi Arabia which has to sell oil in US dollars only in.prof.2517 Making other Arab members of the OPEC group or the Organization of the Petroleum Exporting Countries. It was at this point that the term Petrodollar originated, meaning the use of the US dollar as an intermediary in oil trading. The most sought-after commodity in the world is “oil” which is the basic energy for the economy of every country in the world to keep going when every country wants to buy oil then they have to exchange their main currency for US dollars buy oil from producing countries The producing country also brought the dollar currency USA obtained. come and buy goods and services from the United States or other markets or trade back into their primary currency Continue to spend domestically and use the US dollar also to buy assets that are referenced to the US dollar or US government bonds. As an alternative investment method, these cycles provide economic stability and the position of the US dollar to aid global market demand. The United States also uses the US dollar. It is a weapon that is used to control, direct and negotiate major powers on the world political stage as the US can allow oil-producing countries subject to US economic sanctions to sell oil with other currencies, such as Venezuela which must be sold in money, Euros and Yuan or even Iran Sold in Euros and Indian Rupees. and recent big news Giant oil-producing country Saudi Arabia has announced its consideration of using the Chinese currency yuan in oil trading. Many people still see it as a mere manifestation in the world political arena. in maintaining the balance of power And it will be a long time before other currencies like the yuan play a role in the economy.
But with the current war situation to be associated with energy giants like Russia it could become a catalyst for Russia. must turn to other currencies to trade their energy, as well as the Chinese yuan must create a huge vibration for the superpowers of the United States of America
Kowit Wongsurawat
