Trip to Saudi Arabia: China’s Xi May Visit in May
The trip could happen as soon as May, Reuters reported on March 15 citing the Wall Street Journal. “The visit could help the kingdom deepen its ties with Beijing at a time of strained relations with Washington.”
COMMENT: Saudi Arabia’s crown prince Mohammed bin Salman (MBS) may be the one having the distinction of casting the first stone at USA and bringing about the demise of the US dollar as the world reserve currency. Rumors are abound that Saudi which for decades had been selling its oil in US currency in exchange for US security guarantee is said to have agreed to sell for the first time in 50 odd years its oil to China in Chinese yuan. Others, Gaddafi and Saddam had attempted to make similar attempts.
The threat to USA is real and it was serious enough to shake Biden into calling MBS twice but was given the royal snub. MBS refused his calls. The parody didn’t end there. Boris Johnson, UK’s Prime Minister, sought a special audience with MBS with whom the press claimed to share a special bond. However, he came away with empty hands as well. And to add salt to the injury, the King of Saudi Arabia is said to have issued an invitation to President Xi of China for an official red carpeted visit to Saudi Arabia .
The pendulum has undoubtedly swung to the East and will remain there for the foreseeable future as the military industrial complex continues to play the dangerous game in Ukraine and the wider region.
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This piece of news does not seem to receive much coverage, but the visit carries significant implications. 1) Xi never leaves China during the pandemic (still raging); 2) Saudi did not take Biden’s call, but initiated this invitation; 3) for Xi to make visit, it means major deals have been pre-agreed; Xi is there just to sign. These deals may cover a) arms sales by China; b) but most importantly, long term oil deal denominated in RMB. If a RMB oil deal can be sealed, it will mean the beginning of the end of US$ hegemony because that spells the end of petrodollars (which was created in 1974 between Kissinger and Saudi).