Something major happened on the world stage just over two weeks ago. The Chinese mediated a peace agreement between Iran and Saudi Arabia - which have been badly damaged for seven years since 2016 after Saudi Arabia hung Nimr al Nimr a homegrown Shia cleric.
On Friday, March 10, Iran and Saudi Arabia signed a trilateral agreement with China’s top diplomat, Wang Yi, in Beijing, committing to re-establish ties that had broken down since 2016. According to the joint statement, the two countries have agreed to reopen their embassies within a “maximum period of two months”.
The Saudis are now reaping what they sowed - again. Their eight year old bungle in Yemen has cost them plenty of embarrassment. The Saudis have basically lost the war against Yemen. There has been a ceasefire since October 2022. A peace deal has been worked out where the Shia Houthis (fully backed by Iran) will likely take over the governing of Yemen. There is talk of multi-billion US Dollar reparations payments by the Saudis. In exchange the Houthis may (or may not) evacuate large border areas under their control. Plus the Houthis will give up plans to venture further north into Saudi Arabia - which was never their intention in the first place.
After Obama allowed the US to export oil, the US oil output increased and the US does not really need Saudi oil anymore. Hence the US has less need for Saudi Arabia. Plus Joe Biden calling the Saudis "pariah" does not help the Saudis either.
China can see through all this irrelevance. The Chinese seem fixated with just one goal - worldwide prosperity. And China has great clout. China is now the largest trading partner to more than 120 countries in the world.
China is the largest trading partner for the US, the European Union, Japan, the Koreas, Iran, Saudi Arabia, Taiwan, Ukraine, Russia, India, Malaysia and so many other countries.
The latest news is that China will mediate a peace deal between Ukraine and Russia.
The process is still in the works. China is going around the world putting out fires started by the US, the UK and the rest of the West.
The views expressed are those of the writer and do not necessarily reflect those of MMKtT.
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