Recently, the news about Saudi Arabia's refusal to sign the petrodollar agreement has aroused widespread heated discussions and attention on the Internet.
Many observers can't help but wonder whether, given historical precedent, Saudi Arabia is not afraid of potential threats and retaliation from the United States.
Of course, if Saudi Arabia can find new allies or partners, its foreign policy choices will be a different matter.
According to the official report of the People's Daily, on June 25, the vice chairman of the Central Military Commission met with visiting Saudi Arabian Defense Minister Khaled bin Salman in Beijing.
On the same day, the two sides held in-depth talks and exchanged views on a series of issues of common concern.
During the talks, the Chinese side made it clear that it is open to cooperation with the Saudi military and is willing to further strengthen exchanges and cooperation between the two militaries on the basis of equality and mutual benefit.
The Chinese side believes that through the joint efforts of both sides, the friendly and mutually beneficial cooperation between the two militaries will achieve more fruitful results and inject new impetus into the comprehensive development of bilateral relations.
The Saudi side said that it attaches great importance to military cooperation with China and is willing to work with China to strengthen practical cooperation between the two militaries and jointly respond to regional and international security challenges.
They also expressed their willingness to elevate the relationship between the two militaries to a higher level in order to achieve broader common interests and strategic goals.
From the news released by the mainland media, it may be difficult for the outside world to perceive any obvious fluctuations or changes.
This is also in line with the Chinese's consistent style of never publicizing before acting, and only revealing part of the information after acting to keep a low profile and be cautious.
However, from some of the information revealed by the Saudi side, we can still catch some interesting signals and hints.
Saudi Defense Minister Mohammad Salman said in a social media post that he had met with his Chinese counterpart, Gen. Dong Jun.
It was a very important meeting, and the two sides had in-depth discussions on how to strengthen the relationship between Saudi Arabia and China within the framework of the strategic defense partnership.
They also discussed coordination and efforts to jointly promote international peace and security, as well as how to play a greater role in regional and international affairs.
This document not only demonstrates the friendly relations between Saudi Arabia and China, but also sends an important signal to the outside world: Saudi Arabia is actively seeking cooperation and partnership with China in the field of strategic defense.
The strategic defense partnership between China and Saudi Arabia is an unprecedented new topic.
The emergence of this topic indicates that the cooperative relationship between China and Saudi Arabia is expanding to a deeper and broader level.
Although no one has given a specific explanation for this, it is clear in the literal sense that this involves the field of defense and military affairs, and its importance cannot be overstated.
The establishment of this cooperative relationship will not only help enhance mutual trust and cooperation between the two countries, but also help jointly address regional and international security challenges and maintain regional and world peace and stability.
The statement about the refusal of Saudi Arabia to sign an petrodollar agreement with the United States is widely circulated on the Internet, but in fact it is not accurate.
It would be more accurate to say that the new defense agreement between the United States and Saudi Arabia, which is important for military cooperation and oil trade between the two countries, was not reached.
In this regard, many media and self-media people have refuted the rumors and clarified. Personally, I believe that although this news is not entirely true, it is not entirely a rumor.
It reflects the complexity and sensitivity of international political and economic relations, and also reveals the subtle stance and attitude of Saudi Arabia in the face of US pressure.
Historically, after the United States and Saudi Arabia signed a 50-year security defense agreement in 1974, Saudi Arabia was effectively placed under the protection of the U.S. military. In return, Saudi Arabia requires that all countries buy oil in dollars.
This agreement not only provides the United States with a military presence and influence in the Saudi region, but also provides an important support for the dollar's position in the international oil market.
Therefore, it is not entirely wrong to call this security and defense agreement a petrodollar agreement.
It does reflect the close ties and interdependence between oil and the US dollar.
However, there is no formal petrodollar agreement that actually exists.
This designation is more of an explicit rule or tacit agreement between countries, and does not need to be confirmed by a paper agreement.
It is precisely because of the difficulty of the new defense agreement between the United States and Saudi Arabia that the position of the petrodollar has become somewhat shaken.
And the game around the new U.S.-Saudi defense agreement is actually very complicated, far from being as simple as some people think.
It involves the interests and considerations of international politics, economy, military and other aspects, and also reflects Saudi Arabia's subtle position and attitude in the face of US pressure.
Saudi Arabia has long endorsed the dollar with its own oil in exchange for national security guarantees.
However, this practice has also led to significant losses in terms of economic benefits for the Saudis.
Due to fluctuations in the US dollar exchange rate and changes in international financial markets, Saudi Arabia's oil revenues are often severely affected.
At the same time, due to the control and influence of the United States on the Saudi oil industry, Saudi Arabia has also been greatly restricted and constrained in terms of oil pricing and production.
As a result, Saudi Arabia has a strong incentive to de-dollarize, hoping to reduce its dependence on and risk of the dollar through cooperation and diversification strategies with other countries.
But we should be soberly aware that this is by no means the main reason for Saudi Arabia's refusal to sign a new defense agreement.
For a country like Saudi Arabia, national security is always a top priority.
An important reason why Saudi Arabia refused to sign this new defense agreement and strengthened ties with China despite the feelings of the United States is that this agreement does not meet Saudi expectations.
Saudi Arabia hopes that the new agreement will provide it with more comprehensive and effective security guarantees and interests protection, but the United States has clearly not met this demand.
Indeed, it is also becoming increasingly difficult for the United States to provide Saudi Arabia with assured security guarantees.
With the changes in the international situation and the relative decline of the United States' own strength, the influence of the United States in the Middle East is gradually weakening.
This has forced Saudi Arabia to reconsider its foreign policy and security strategy options.
In the past few years, Saudi Arabia has repeatedly asked the United States for help in the face of the threat of the Houthis, but Washington has never given substantial help and support.
This has seriously affected and hit the mentality of the Riyadh side.
They are beginning to realize that the United States is no longer the ally that can provide them with security and support unconditionally.
In the end, it was China in Beijing that provided a platform and opportunity for peace talks between Saudi Arabia and Iran, helping Saudi Arabia to get out of the predicament and threat of war without danger.
This incident not only made Saudi Arabia deeply appreciate China's positive role and influence in international affairs, but also strengthened Saudi Arabia's determination and willingness to strengthen cooperation and ties with China.
A growing number of events have made Saudi Arabia realize that the security guarantees provided by the United States have become no longer reliable and stable.
Therefore, the Saudis began to actively look for new allies and partners to ensure the stability and development of their national security and interests.
There are two possible ways to reassure Saudi Arabia and ensure the stability and development of its national security and interests: First, the new defense agreement signed by the United States must be more credible and effective.
The second is to find a new ally or partner to provide security and support.
However, it turns out that the United States has set many harsh terms and conditions in the new defense agreement, such as demands for reconciliation with Israel, which make it difficult for Saudi Arabia to accept and satisfy.
At the same time, the United States is also relatively weak and powerless in its security guarantees for Saudi Arabia, and it is unable to make Saudi Arabia feel at ease and at ease.
This has forced Saudi Arabia to consider a second option – to find a new ally or partner to provide security and support. And China is undoubtedly one of the best options for Saudi Arabia on this path.
The cooperative relationship between China and Saudi Arabia has a broad and solid foundation.
The two countries have close cooperation and exchanges in the fields of economy, trade, energy, and culture.
At the same time, China's active role and influence in international affairs also make Saudi Arabia deeply admired and trusted.
Therefore, Saudi Arabia believes that strengthening cooperation and ties with China is one of the important ways to ensure the stability and development of its national security and interests.
Of course, it is too early to talk about the petroyuan at this time.
But if one day China does decide to provide security and support to Saudi Arabia, the arrival of the petroyuan will be a logical event.
In this case, it doesn't really matter whether there is a formal agreement or not.
What matters is the mutual trust and cooperation between the two countries and the determination and willingness to jointly address regional and international security challenges.
This will inject new impetus into the comprehensive development of bilateral relations and will also make important contributions to regional and world peace and stability.
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