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China Facts: China is a large player in the Middle East

 

 

In 2008 the Middle East got less than 1% of China's net outbound foreign direct investment. Skip ahead a decade and Chinese money is everywhere: ports in Oman, factories in Algeria, skyscrapers in Egypt's new capital. Last year it pledged $23bn in loans and aid to Arab states and signed another $28bn in investment and construction deals. Infrastructure loans from China to the Middle East grew almost tenfold from 2015 to 2016, to $3.5bn. But more than half went to the United Arab Emirates to finance projects like the expansion of Dubai's airports, the world's busiest. Interestingly almost two-thirds of Chinese exports to Europe, the Middle East and Africa move through Emirati ports. If the Chinese-funded port at Gwadar, in Pakistan, becomes a trans-shipment hub, it could take business from Dubai's flagship Jebel Ali port. Dums poses a similar treath. *) 

 

*) the Economist 20th April 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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