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Business not Capital Links New China to Dubai

26 may 2008 - News - Editor

China builds trade and business links with the Arab world by the month. That is true of other countries as well. The difference here lies in the industrious wealth of China. It can match Dubai when it comes to capital resources. China is an equal partner in the march of Sovereign Wealth Funds. Both countries vie to purchase global corporations. China, like Dubai is in pressing needs to invest piles of depreciating dollars. Private Equity from the Middle East has joined the government investing arm of China in hunting for valuable world stocks. However, this is not the mainstay of friendly trade moves between the two wealthy blocks.

Energy is a more durable link between China and the Middle East. Beijing does not quibble with OPEC over crude cartels. China understands that cheap credit in the US fuels oil price inflation. China has domestic, Australian, and African alternatives for its energy security. Middle East oil and gas is welcome, but this is matched by Arab needs for reliable and bulk consumers.

Some observers wonder if other countries should worry about growing links between Dubai and China. Political fears are probably unfounded. The one commonality between China and the Arab world is commercial acumen. Dubai has earned an unassailable reputation for being open for business with all comers. It is the same with China. Sovereign Wealth Funds from Dubai and China can certainly join hands. However, this will solely be in the interests of sound business. Competent professionals in western corporations have no cause for alarm on this emerging front.

 


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