Oil and Beyond: Sino-Saudi Strategic Economic Relationship

Abstract

The purpose of this paper is to analyze the dynamics and the expanding strategic economic contents of Sino-Saudi economic relationship in new era. With the risings of China and Saudi Arabia and expansion of the fields of cooperation, Sino-Saudi economic relationship is becoming strategically prominent in 21^st Century. The development of Sino-Saudi economic relationship is pushed forward by the bilateral economic and strategic demands, driven by the combination of the complementarities of the bilateral economy, the “Looking Eastward” Policy of Saudi Arabia, the rise of China and the mutual perception. Saudi Arabia plays a crucial role in China’s energy security, the economic ties between China and GCC countries, Arab countries and Islamic countries and the construction of “One Belt and One Road” Project as well. What’s more, Saudi Arabia is a key partner in the cooperation between China and emerging powers and in promoting global economic governance. As a result, Sino-Saudi economic relationship is increasingly having strategic meaning beyond bilateral scope that has become the foundation for the Sino-Saudi strategic cooperation. In the future, works must be done to go beyond the single field of oil and consolidate the all-round cooperation of Sino-Saudi strategic economic relationship.

Key Words: China; Saudi Arabia; Oil; Strategic Economic Relationship