Recently, there have been rumors around the world that Saudi Arabia will not renew the petrodollar agreement, but they have never officially stated that Saudi Arabia's position is to the west or east? Or do you want to keep riding the wall?
The fact that Saudi Arabia does not express its position does not mean that they have not thought it through, and it does not mean that they have not done anything. Recently, Saudi Arabia has done a series of things with very strong significance, and another major event has happened in the past two days.
Let's start with the fact that Saudi Arabia has done another big thing recently.
On June 29, Renault Group announced that Saudi Aramco will acquire a 10% stake in HORSE Powertrain Limited for about 740 million euros.
This Haosi powertrain technology company is actually a joint venture between Renault and Geely Holdings, and on May 31, 2024, Renault and Geely just completed the joint venture.
The company develops and markets state-of-the-art hybrid and gasoline powertrain technologies, components and systems, including engines, transmissions, hybrid systems and battery solutions.
It is reported that the technology will serve a number of global automakers, including Renault Group, Geely Automobile, Volvo Cars, Proton, Nissan and Mitsubishi Motors.
In addition, Germany's Mercedes-Benz cars will gradually adopt Geely's engine and hybrid technology.
Currently, Li Donghui, CEO of Geely Holding, serves as the chairman of Haosi Powertrain Technology Co., Ltd.
Obviously, Geely, although not the controlling shareholder of Haosi Technology, occupies an important position on the board of directors.
Therefore, although Haosi Technology is not a company controlled by Geely, it can basically be regarded as a company that Geely has injected into its mature automobile industry chain.
China's new energy vehicle industry chain goes abroad and goes to the world, seeking more cooperation and attracting more resources, which is the inevitable path, and this is also the cooperation model that the European Union, which is imposing tariffs on Chinese cars, is looking forward to.
At present, the United States and the European Union are busy imposing tariffs on Chinese cars, and Saudi Arabia's investment in our automotive field at this time is itself an attitude.
At the same time, Saudi Aramco's investment in this company in which Geely is a shareholder has a more important symbolic significance, why do you say so?
This is because Saudi Arabia's recent series of actions have formed a clearer and clearer trend around one thing.
Here's the thing: Saudi Arabia is not renewing the petrodollar deal, and it still looks confusing.
Although there have been many reports in the mainstream media in the West, there is no accurate statement so far, because Saudi Arabia has not officially stated its position.
Saudi Arabia's refusal to say anything is likely due to the fact that both sides are trying to save the last bit of face.
If this kind of thing is put on the table and openly tears its face, I am afraid that the Americans will have to force the Biden administration to do something.
Especially the Jewish consortium, I'm afraid that they will have to slap the table and scold and say that the good Saudi Arabia is reconciled?
Therefore, tearing the face is not good for the Biden administration in the United States and the Saudi royal family, and it is good not to be ambiguous at the moment, Biden can be vague, fool the past, and drag it out to the election.
So, since you can't say it explicitly, you can always do something, right? So Saudi Arabia has done a series of things recently, let's briefly list them, let's take a look.
In April, Saudi Arabia took a stake in China's Hengli Petrochemical at a cost of about 11 billion yuan.
In May, Saudi Arabia signed an order for 105 Airbus aircraft, the largest aircraft order in Saudi history.
At the end of May, Saudi Arabia participated in the China-Arab summit in Beijing.
According to the Saudi Press Agency, for the summit, Saudi Arabia is ready to sign more than 20 agreements worth more than $30 billion with China, in addition to signing strategic documents related to the "Belt and Road" and "Vision 2030" with China.
On June 5, Reuters reported that Saudi Arabia has joined the multilateral central bank digital currency bridge project (mBridge) led by the Bank for International Settlements and China, making it clear that it wants to accelerate the process of digital currency settlement of oil transactions.
In June, Saudi Arabia rejected an invitation from Italian Prime Minister Meloni to attend the G7 summit.
Also in June, Saudi Arabia participated in the BRICS Foreign Ministers' Meeting in Russia.
On June 25, Saudi Defense Minister Khalid bin Salman led a delegation to visit China.
At the end of June, the Ministry of Defence gave a presentation on the ongoing seminar for senior military officers from Arab countries.
Of course, we can't say it explicitly, but our close interaction with Saudi Arabia and a lot of economic cooperation can tell a lot.
Looking east, this is already a trend, not only in the direction of the Saudi, but also in the direction of the entire Arab world.