Why in news?
Beijing hosted the leaders of Saudi Arabia and Israel, in consecutive weeks.
What happened during the meet?
- China and Saudi Arabia announced an investment cooperation deal worth $65 billion that will boost partnerships in fields such as energy, finance and aerospace.
- Chinese President and Israeli PM vowed to strengthen cooperation in the technology and agriculture sectors.
- Mr. Xi said peaceful coexistence between Israel and Palestine would be good for both parties and the region.
- The Chinese have also urged Saudi Arabia and Israel to work together to attain peace.
- China has also shown interest in the region beyond the economic sphere.
- It is one of the supporters of the Bashar al-Assad regime in civil war-stricken Syria.
- In the UN Security Council, China has consistently vetoed U.S.-backed resolutions on Syria,.
- At the same time it offered to broker peace between rival factions.
- China has also recognised Palestine as a state and offered support for the Palestinians
What is the significance?
- It signals the growing enthusiasm of China to deepen ties with the region.
- China is interested because over the years China has built strong economic ties with countries in West Asia.
- It is one of the top buyers of oil from Saudi Arabia and a key trading partner of Israel.
- For Iran, Beijing remained a trusted ally even during the time of sanctions.
- China’s economic ties with West Asia assumed greater significance after the induction of One Belt, One Road initiative.
- West Asia plays a major role in this Silk Road revival plan.
- These moves indicate China is ready to end its strategic reluctance in dealing with West Asia and to adopt a gradualist proactive policy that suits its profile as a fast-rising global power.
Source: The Hindu
