The advantage is mutual: The Middle East has great reserves of oil, and China’s foreign-policy based on non-interference in other countries’ internal affairs is popular with the region’s authoritarian regimes.
So China rejects Western efforts to impose sanctions to stop the Iranian nuclear program. Beijing is the largest buyer of Iranian petroleum, accounting for 20 percent of Iran’s exports, explains author Dilip Hiro. He reviews recent history of US attempts to impose sanctions on Iran even as Chinese firms were in the midst of negotiating multiyear oil and gas deals.
There is consensus among a network of Chinese think tanks, Hiro reports, that “Iran is a rising power in the Middle East, gaining influence at the expense of America.” So far, trade has trumped political concerns, as China makes deals with post-revolution Libya and even Iran’s longtime opponent Saudi Arabia. Still, China could be taking a gamble by counting on consistent foreign policies from the Middle East. – YaleGlobal
China’s new three-child policy highlights risks of aging across emerging Asia
Thailand’s (Baa1 stable) total dependency ratio is set to jump nine percentage points to 51% by 2030 – a faster increase than China’s – which will pressure public and private savings through higher taxes and social spending, reducing innovation and productivity gains.
Population aging in China (A1 stable) and other emerging markets in Asia will hurt economic growth, competitiveness and fiscal revenue, unless productivity gains accelerate, according to a new report by Moody’s Investors Service.(more…)
Clear skies over Asia’s new foreign investment landscape?
Compounding the fallout of the US–China trade war, the global pandemic and recession have caused considerable speculation on the future of foreign investment and global value chains (GVCs). But though there is likely to be some permanent change, it will probably not be as great as politicians expect.(more…)
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