China Issues Dollar Bonds in Saudi Arabia—A Strange Move
By Milton Ezrati In early November, China’s Ministry of Finance floated a $2 billion bond issue in Riyadh, Saudi Arabia. The choice of place instead of some better-recognized financial market says a lot about Beijing’s desire to court Saudi Arabia and perhaps someday supplant the United States as the oil-rich kingdom’s strategic partner. The decision to denominate the issue in U.S.
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