How significant is PIF’s $50B China investment for Saudi ties? Though Riyadh continues its efforts toward economic integration with Beijing, it still seeks to balance relations with both Beijing and Washington.
China’s foreign minister, Wang Yi (R), shakes hands with Saudi Arabia’s foreign minister, Prince Faisal bin Farhan Al-Saud, before a family photo for the attendees of a meeting of foreign ministers from Arab and Muslim-majority nations at the Diaoyutai State Guest House in Beijing on November 20, 2023. — PEDRO PARDO/AFP via Getty Images
How significant is PIF’s $50B China investment for Saudi ties?
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