The signed deals also covered a petrochemicals project, housing development and the teaching of the Chinese language.
The Saudi crown prince sees China as a critical partner in his sweeping Vision 2030 agenda, seeking the involvement of Chinese firms in ambitious mega-projects meant to diversify the economy away from fossil fuels.
I am watching the Saudis spend money on things like Liv Golf. It is not just golf. It is doing it bigger and badder as a policy.
We have that here as well.
It runs dry eventually.
Unless the Saudis get into financial reality in their dealings things wont succeed.
The Chinese are finding that out as well.
We in the US find out on the individual level.
Although people will be squawking about our Treasury paper next year. It will be okay by the end of 2023.