State-owned Chinese and Emirati businesses have reached multi-billion dollar deals in energy and infrastructure. Credit: ADNOC
In March, the West sounded the alarm over China’s $400 billion deal with Iran, worrying that the United States was losing influence in the region to China. But observers have largely overlooked China’s deepening relationship with the United Arab Emirates.
The United Arab Emirates and China have close ties that reach beyond a mutually beneficial economic relationship. China is the Emirates’ biggest trading partner. Their shared finances include a series of 2018 agreements, as well as a $10 billion investment fund backed by the countries’ state-owned and sovereign wealth funds. The U.A.E. also uses Huawei equipment in its 5G networks, a decision reported on in early 2019 as a break from the United States. There are also a significant number of Chinese ex-patriates living in the Emirates,Exact numbers are elusive, but one official put the number at over 300,000 in 2015. and several Chinese state-owned enterprises (SOEs) have set up offices in the country as a home base for proj
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