Advertisement

Investing Mania: US Stands No Chance against China’s Oil Gains

0
141
Advertisement

Investing Mania
Nov 1, 2022

Experts say that a row between the US and Saudi Arabia over oil production and Washington’s diminishing influence in the Middle East gives China a chance to expand its regional footprint; Last week, the 2022 session of the Future Investment Initiative, commonly known as “Davos in the Desert, ” was held in Riyadh, Saudi Arabia; It brought prominent policymakers, CEOs, investors, entrepreneurs and emerging business leaders to discuss the future of international investment and the global economy; No US government official attended the event; But that was because none were invited; When asked about the non-participation of anyone from the US administration ahead of the event, FII group CEO Richard Attias said they decided so that the event did not turn into a “political platform”; The “Davos in the Desert” has further exposed the divergences between the United States and Saudi Arabia; Tensions have been apparent between the two for quite some time, and the conflict between Russia and Ukraine has exacerbated them; While Washington has insisted on sanctioning Russia for its “special military operation” in Ukraine, Riyadh has maintained good relations with Moscow, which has irked the Joe Biden administration; It was further displeased with “OPEC” members deciding at their ministerial-level conference at the beginning of October; To cut their crude oil production by 2 million barrels daily compared with August, despite US President Joe Biden urging them to increase output during his visit to Saudi Arabia in July; And Saudi Arabia knows where the opportunities are; Saudi Arabia’s Crown Prince and Prime Minister, Mohammed bin Salman bin Abdulaziz Al Saud expressed his country’s desire to join brick; Earlier this month, which is regarded as adjusting its previous “oil for security” strategy that aligned it with the US; The Future Investment Initiative also exposed the divergences between the US business community and the Biden administration; Even without the participation of any official representatives, as many as 400 US executives attended the event upon invitation; Among them were JP Morgan CEO Jamie Dimon, Blackstone CEO Stephen Schwarzman, Bridgewater founder Ray Dalio and Goldman Sachs CEO David Solomon, who shared a stage on Monday; Despite the global recession, the International Monetary Fund has estimated Saudi Arabia’s economic growth will be 7;6 per cent in 2022, which is an attractive cake for US investors; Turning to brick signifies recognition of a global community that is forming outside of the established Western one dictated by the US; Saudi Arabia has signalled that it is no longer tied to Washington’s apron strings; Under the self-serving manipulation of financial and commercial controls, it applies to secure its advantages; US politicians should be reminded that in this way, they are turning many friends into adversaries;Show less

https://www.youtube.com/watch?v=4iGJVmICJ_g

______________________________________________________

If you wish to contact the author of any reader submitted guest post, you can give us an email at UniversalOm432Hz@gmail.com and we’ll forward your request to the author.
______________________________________________________

All articles, videos, and images posted on Dinar Chronicles were submitted by readers and/or handpicked by the site itself for informational and/or entertainment purposes.

Dinar Chronicles is not a registered investment adviser, broker dealer, banker or currency dealer and as such, no information on the website should be construed as investment advice. We do not support, represent or guarantee the completeness, truthfulness, accuracy, or reliability of any content or communications posted on this site. Information posted on this site may or may not be fictitious. We do not intend to and are not providing financial, legal, tax, political or any other advice to readers of this website.

Copyright © 2022 Dinar Chronicles

Advertisement
Advertisement

LEAVE A REPLY

Please enter your comment!
Please enter your name here