Home
China is trying to remove America from the Iraqi economy
[You must be registered and logged in to see this link.] [You must be registered and logged in to see this link.] [You must be registered and logged in to see this link.] [You must be registered and logged in to see this link.]
Economy News - Baghdad
It seems that the competition between the United States and China over the Middle East in the commercial fields will have a negative impact on these countries, including Iraq, whose trade relations with China expanded to exceed $40 billion in 2021. Chinese companies are present in Iraq with large investments in the oil, electricity, construction and entertainment sectors in the country. Various Iraqi cities, where the spread of Chinese labor is remarkable in cities such as Baghdad, Basra and Erbil.
Perhaps the increase in these investments and the justifications for protecting Chinese interests raised American fears of establishing Chinese bases in the Middle East, including Iraq, which raised the alarm in the US Department of Defense of the consequences of this step. The Pentagon issued a report warning the countries of the region, especially Iraq, against dealing with the Chinese government on a large scale, and at the same time warned the Chinese government against provoking the United States in the Middle East.
The report indicated that China escalated its dealings with the countries of the Middle East, especially Iraq, during the past year 2021, which continued, this year, and that Beijing seeks to expand its base of influence through economic relations that ultimately aims to create Chinese military headquarters within the regions of the Middle East in general, And Iraq in particular, and the report warns "countries of the region, especially Iraq" against continuing to deal with the Chinese government, announcing that President Joe Biden's administration does not call on those countries to sever their diplomatic relations with China, according to what US Undersecretary of Defense for Political Affairs Colin Kahl explained during a statement to NET Middle East Monitor.
The US official confirmed that President Biden's administration is closely monitoring the dealings of countries in the region, especially Iraq, with China, explaining that China's intentions in the region target American interests, and this is what we cannot allow to happen, he said. He warned both Iraq and the countries of the region against "harming US interests by dealing on a large scale with China."
Nabil Al-Marsoumi, professor of economics at the University of Basra, said that there are American fears of increasing Chinese influence in Iraq after increasing the volume of trade exchange with Iraq to $40 billion. Al-Marsoumi said, "There is a trade war between China and the United States from the time of Donald Trump to today, because the United States has imposed customs duties on a large number of Chinese goods to protect American goods for fear of Chinese goods invading American markets."
He added that Iraq is one of the most important economic countries in the Middle East, and it is a focus of attention by China because it is the region in which American influence can be undermined, indicating that Iraq is one of the promising countries in energy production, and therefore China has entered strongly in this field by operating oil fields. An Iraqi oil giant, West Qurna, Halfawiya, Al-Ahdab and Nissan, and the conclusion of other contracts such as the Hoveyza and Mansouriya gas fields and the strategic Al-Faw refinery.
Al-Marsoumi explained that China does not only invest in the oil sector, but also in the gas sector through secondary contracting, so there is a large presence of China in Iraq, indicating that expectations estimate the volume of trade exchange between Iraq and China to reach 40 billion dollars, especially since Iraq is the third oil-exporting country to China after Russia and Saudi Arabia, as well as Iraq importing large goods from China.
Baghdad fears the results
Al-Marsoumi added that China has large investments in Iraq in the field of construction, energy and infrastructure, and there is fear of the expansion of Chinese influence in Iraq, especially in the field of energy, since Beijing buys the share of any foreign oil company that exits the oil market, and its companies have expressed their willingness to buy the share of "Exxon Mobil". When it was offered for sale, pointing out that the Iraqi government rejected the Chinese offer for fear of expanding China's influence more and for fear of the reluctance of Western companies to come to Iraq, as well as to avoid arousing fear of the United States, which considers Iraq a key player, especially in light of its location linking the continent of Asia and Europe. .
Iraqi reality
He pointed out that China is ready to pay money to some parties, unlike Western companies that cannot operate away from transparency and in the absence of stability, stressing that there is a major Chinese incursion that raises the concerns of the United States and Westerners because the Chinese are the largest importing country of oil and import from 10 to 11 million barrels, and they care In Iraq because it can provide them with great resources in addition to the huge profits in the infrastructure sector.
important market
The head of the Iraq Center for Strategic Studies, Ghazi Faisal, saw the US interest in Iraq as a market in which there are mineral resources worth $20 trillion, pointing out, at the same time, that Washington is trying to return part of the bill for the war on Iraq. Faisal said, "There is a kind of commercial competition between the United States and China over the global markets for the export of goods, over the sources of primary resources, and over energy. It has giant investments in the United States, and the latter also has financial assets and giant companies operating in China.
Faisal added that there is intense competition for the markets, and it is not possible to go to large and diversified production without the presence of stable markets, and the Middle East is a vital strategic market for investment, and an important market for European and Western commodities, pointing out that China is fierce competition, but it is poor in mineral resources, as it imports all Something from minerals, oil and gas, and it needs 10 million barrels of oil per day, and it is trying to take over the Iraqi market.
Chinese investments
He added that China is a competitor to American and European commodities and is interested in the market and investment in Iraq, the Middle East and the Arab Gulf, especially Iraq, in which the value of heavy and light minerals in oil, gas, wealth and other heavy minerals is estimated at nearly $20 trillion, pointing out that minerals are a tremendous wealth for the United States. Which spent three trillion dollars in Iraq as a result of its invasion of the country and wants to recover the trillions it spent in commercial and economic interests.
Threat to American interests
Faisal explained that the Chinese commercial and economic incursion into Iraq constitutes a threat to US interests in the Middle East and the Arab Gulf, because China is currently establishing military bases in Africa to guarantee its interests in terms of investment, and it also relies on military strategy to guarantee its economic and commercial interests and guarantee the security of companies operating in those countries. States, especially since it is the second economy in the world. Faisal did not rule out that the competition between Beijing and Washington would turn into a conflict, or that China would go to publish rules after agreeing with the competent governments in a number of Middle Eastern countries, including Iraq, in order to protect its interests.
The director of the Republican Center for Strategic and Security Studies, Moataz Mohie Abdel Hamid, did not rule out the existence of Chinese intentions to establish a military base in the Middle East region to protect its interests in the region. "China has great economic interests in Iraq, as it imports more than one million barrels per day of crude oil, in addition to establishing banking partnerships with it," he said, adding that it has projects in Iraq to restore infrastructure and future projects to establish a railway extending from China and then Iran, Iraq and Syria. , which is heavily oriented towards the Middle East.
Abdel Hamid also did not rule out the existence of a Chinese tendency to establish a foothold for him in the Middle East to protect Beijing's interests in the region, including Iraq, and pointed out that the government of Muhammad Shia al-Sudani intends to build strategic relations with many countries, including China and Russia, and not rely solely on the United States for Developing the country's infrastructure.
Quoted from The Independent Arabia
Views 7
Added 12/06/2022 - 3:04 PM
Updated 12/06/2022 - 3:06 PM
[You must be registered and logged in to see this link.]
[You must be registered and logged in to see this image.]
[You must be registered and logged in to see this link.] [You must be registered and logged in to see this link.] [You must be registered and logged in to see this link.] [You must be registered and logged in to see this link.]
Economy News - Baghdad
It seems that the competition between the United States and China over the Middle East in the commercial fields will have a negative impact on these countries, including Iraq, whose trade relations with China expanded to exceed $40 billion in 2021. Chinese companies are present in Iraq with large investments in the oil, electricity, construction and entertainment sectors in the country. Various Iraqi cities, where the spread of Chinese labor is remarkable in cities such as Baghdad, Basra and Erbil.
Perhaps the increase in these investments and the justifications for protecting Chinese interests raised American fears of establishing Chinese bases in the Middle East, including Iraq, which raised the alarm in the US Department of Defense of the consequences of this step. The Pentagon issued a report warning the countries of the region, especially Iraq, against dealing with the Chinese government on a large scale, and at the same time warned the Chinese government against provoking the United States in the Middle East.
The report indicated that China escalated its dealings with the countries of the Middle East, especially Iraq, during the past year 2021, which continued, this year, and that Beijing seeks to expand its base of influence through economic relations that ultimately aims to create Chinese military headquarters within the regions of the Middle East in general, And Iraq in particular, and the report warns "countries of the region, especially Iraq" against continuing to deal with the Chinese government, announcing that President Joe Biden's administration does not call on those countries to sever their diplomatic relations with China, according to what US Undersecretary of Defense for Political Affairs Colin Kahl explained during a statement to NET Middle East Monitor.
The US official confirmed that President Biden's administration is closely monitoring the dealings of countries in the region, especially Iraq, with China, explaining that China's intentions in the region target American interests, and this is what we cannot allow to happen, he said. He warned both Iraq and the countries of the region against "harming US interests by dealing on a large scale with China."
Nabil Al-Marsoumi, professor of economics at the University of Basra, said that there are American fears of increasing Chinese influence in Iraq after increasing the volume of trade exchange with Iraq to $40 billion. Al-Marsoumi said, "There is a trade war between China and the United States from the time of Donald Trump to today, because the United States has imposed customs duties on a large number of Chinese goods to protect American goods for fear of Chinese goods invading American markets."
He added that Iraq is one of the most important economic countries in the Middle East, and it is a focus of attention by China because it is the region in which American influence can be undermined, indicating that Iraq is one of the promising countries in energy production, and therefore China has entered strongly in this field by operating oil fields. An Iraqi oil giant, West Qurna, Halfawiya, Al-Ahdab and Nissan, and the conclusion of other contracts such as the Hoveyza and Mansouriya gas fields and the strategic Al-Faw refinery.
Al-Marsoumi explained that China does not only invest in the oil sector, but also in the gas sector through secondary contracting, so there is a large presence of China in Iraq, indicating that expectations estimate the volume of trade exchange between Iraq and China to reach 40 billion dollars, especially since Iraq is the third oil-exporting country to China after Russia and Saudi Arabia, as well as Iraq importing large goods from China.
Baghdad fears the results
Al-Marsoumi added that China has large investments in Iraq in the field of construction, energy and infrastructure, and there is fear of the expansion of Chinese influence in Iraq, especially in the field of energy, since Beijing buys the share of any foreign oil company that exits the oil market, and its companies have expressed their willingness to buy the share of "Exxon Mobil". When it was offered for sale, pointing out that the Iraqi government rejected the Chinese offer for fear of expanding China's influence more and for fear of the reluctance of Western companies to come to Iraq, as well as to avoid arousing fear of the United States, which considers Iraq a key player, especially in light of its location linking the continent of Asia and Europe. .
Iraqi reality
He pointed out that China is ready to pay money to some parties, unlike Western companies that cannot operate away from transparency and in the absence of stability, stressing that there is a major Chinese incursion that raises the concerns of the United States and Westerners because the Chinese are the largest importing country of oil and import from 10 to 11 million barrels, and they care In Iraq because it can provide them with great resources in addition to the huge profits in the infrastructure sector.
important market
The head of the Iraq Center for Strategic Studies, Ghazi Faisal, saw the US interest in Iraq as a market in which there are mineral resources worth $20 trillion, pointing out, at the same time, that Washington is trying to return part of the bill for the war on Iraq. Faisal said, "There is a kind of commercial competition between the United States and China over the global markets for the export of goods, over the sources of primary resources, and over energy. It has giant investments in the United States, and the latter also has financial assets and giant companies operating in China.
Faisal added that there is intense competition for the markets, and it is not possible to go to large and diversified production without the presence of stable markets, and the Middle East is a vital strategic market for investment, and an important market for European and Western commodities, pointing out that China is fierce competition, but it is poor in mineral resources, as it imports all Something from minerals, oil and gas, and it needs 10 million barrels of oil per day, and it is trying to take over the Iraqi market.
Chinese investments
He added that China is a competitor to American and European commodities and is interested in the market and investment in Iraq, the Middle East and the Arab Gulf, especially Iraq, in which the value of heavy and light minerals in oil, gas, wealth and other heavy minerals is estimated at nearly $20 trillion, pointing out that minerals are a tremendous wealth for the United States. Which spent three trillion dollars in Iraq as a result of its invasion of the country and wants to recover the trillions it spent in commercial and economic interests.
Threat to American interests
Faisal explained that the Chinese commercial and economic incursion into Iraq constitutes a threat to US interests in the Middle East and the Arab Gulf, because China is currently establishing military bases in Africa to guarantee its interests in terms of investment, and it also relies on military strategy to guarantee its economic and commercial interests and guarantee the security of companies operating in those countries. States, especially since it is the second economy in the world. Faisal did not rule out that the competition between Beijing and Washington would turn into a conflict, or that China would go to publish rules after agreeing with the competent governments in a number of Middle Eastern countries, including Iraq, in order to protect its interests.
The director of the Republican Center for Strategic and Security Studies, Moataz Mohie Abdel Hamid, did not rule out the existence of Chinese intentions to establish a military base in the Middle East region to protect its interests in the region. "China has great economic interests in Iraq, as it imports more than one million barrels per day of crude oil, in addition to establishing banking partnerships with it," he said, adding that it has projects in Iraq to restore infrastructure and future projects to establish a railway extending from China and then Iran, Iraq and Syria. , which is heavily oriented towards the Middle East.
Abdel Hamid also did not rule out the existence of a Chinese tendency to establish a foothold for him in the Middle East to protect Beijing's interests in the region, including Iraq, and pointed out that the government of Muhammad Shia al-Sudani intends to build strategic relations with many countries, including China and Russia, and not rely solely on the United States for Developing the country's infrastructure.
Quoted from The Independent Arabia
Views 7
Added 12/06/2022 - 3:04 PM
Updated 12/06/2022 - 3:06 PM
[You must be registered and logged in to see this link.]
» The Council of Ministers directs the commitment to implement state contracts inside Iraq in Iraqi di
» International arbitration reveals corruption of Korek Company by its owner, Sirwan Barzani, in the a
» It will limit Washington's movements.. Al-Taie talks about the border fence with Syria
» "An anomalous case"... economic criticism of dealing in the dollar in local markets
» ISIS is gone and America's arguments are over.. Popular desire ends dreams of survival and NATO is b
» Planning announces a strategy to reform the social protection system
» Kurdish politician: The silence of the regional government gave Türkiye the green light to increase
» Warnings of Iraq's economic collapse due to internal betrayal and Kuwaiti action
» The general amnesty falters in the interpretation of the term terrorism
» Al-Jubouri: Türkiye is pressing to achieve political gains before resolving the water crisis
» Barzani's party rejects federal bank branches in Sulaymaniyah
» Nechirvan Barzani sends a message to Baghdad: The Kurdistan Region is going through a difficult circ
» Nechirvan Barzani hopes that the results of the National Union Conference will reflect positively on
» The launch of the National Union Conference.. Talabani: We must make the Kurdistan Region a paradise
» Official working hours will be suspended next Tuesday
» What did the Emirati president propose regarding the “path to development”?
» "Al-Eqtisad News" publishes the text of the decisions of the Council of Ministers session
» The Patriotic Union of Kurdistan is preparing to elect a new president at a conference that includes
» Revealing a secret message from Barzani to the American President: Save us, we are collapsing hard
» Is Asaib seeking to assume the position of Governor of the Central Bank?
» A female representative reveals that Iraq lost $20 billion due to the exchange rate difference
» Iraq adopts 7 new ambassadors from various countries
» Sudanese hosts the regular meeting of the state administration coalition
» Exclusion of 125 candidates for the local elections, most notably the Governor of Nineveh, Najm al-J
» In light of a government deficit, the “spoiled” food crisis besieges the Iraqi citizen
» The region's crisis raises "rent allowances"... Kurds prefer "Arabs" for their regular salaries - ur
» The State Administration Coalition affirms respect for Kuwait's territorial integrity and solving pr
» Get to know them...Government decisions within the framework of “financial reform”
» The deadline for the security agreement has expired.. Will Tehran bomb the Kurdish opposition in Ira
» Kuwait and Britain are discussing the repercussions of an Iraqi decision regarding Khor Abdullah
» Expert: The possibility of compensating the victims in the event of pressure on Washington
» After the statement “the end of ISIS”... the US State Department responds to the Prime Minister of I
» Extinguishing debts owed by the families of martyrs and securing the allocations of examiners in the
» The head of the Kurdistan Regional Government representative office receives the British Deputy Amba
» After Al-Sudani's statements...an uncertain future for foreign forces in Iraq
» After the cessation of Kurdistan provincial councils... a warning of a “legal vacuum”
» The Iraqi Council of Ministers issues a package of decisions within the framework of “financial refo
» Chinese is the most appropriate.. Abdul Mahdi: American companies in Iraq consume a lot of money
» Labor releases the salary of the full-time employee for the month of September
» Minister of Finance: The Iraqi government continues its efforts with economic reforms
» The President of the Republic: What happened to our children in the Hamdaniya district is a painful
» Complete decisions of the Council of Ministers session
» Government advisor: The dollar crisis is a battle between the state and speculators
» Controlling fictitious exchange transactions and manipulation in the Diwaniyah departments
» High exchange rates of the dollar against the Iraqi dinar
» Parliament Finance identifies 6 “violations” in the Kurdistan loan: Government banks may send “peopl
» Al-Sudani details the developments in the “battle of the dollar” and threatens sanctions that will a
» Al-Sudani warns of “poisoned speech”: Our government is for all Iraqis of all affiliations
» Iran: We are ready to develop Iraq industrially until 2035
» Following Al-Sudani’s directives, the Association of Private Banks marks “major development” using e
» Victory Coalition: The region’s oil is known only to God and the Kurdistan Democratic Party
» 9/26/23 Announcing the auction of Islamic certificates of deposit
» 9/25/23 Militia Man & Crew Truth - Iraq Dinar - Exchange Rate -
» Militia Man & Crew IRAQ CBI CENTRAL 1941 BANK BUNNY AL-MURRA IRAQ General Guidelines for Banks an
» Document: Al-Rafidain Bank is waiting to sell dollars in some of its branches in Baghdad
» Diwaniyah Agriculture announces the creation of 17 investment opportunities in the plant and animal
» The Baghdad Municipality clarifies the mechanism for issuing residential construction permits electr
» Electricity: The Prime Minister attaches utmost importance to lagging projects
» The director of the Atomic Energy Agency wants to visit Iraq... and reveals the reason
» Iran and its armed opposition.. Baghdad goes through with the agreement, with Tehran’s hand on the t
» Al-Maliki receives an invitation from Erdogan to visit Turkey, and its ambassador talks about a “par
» Kuwait recounts the repercussions of a decision for Iraq to the British Foreign Office and talks abo
» Abdul Mahdi from Shanghai: Iraq approved more than 10 billion dollars to implement the Chinese agree
» An increase in trade exchanges between Tehran and Baghdad.. An Iranian official reveals the numbers
» Recovering funds collected from corruption crimes.. 4 Iraqi laws specialize in this
» Contractors and investors appeal to the Central Bank to exclude them from dealing in the Iraqi dinar
» The government is following a systematic policy of recovery... and the member of the law speaks abou
» Forgery of tax receipts at border crossings
» After Al-Sudani’s decisions.. The Association of Private Banks reveals the development of electronic
» Politician: The region is adopting a darkening of the atmosphere regarding oil production and revenu
» Al-Sudani: Private banks take the dollar from the central bank and sell it in the parallel market, a
» Parliamentary Law warns against encapsulating a general amnesty in terms that allow the release of t
» Radhi: The region persists in violating the constitution because of political favors
» Al-Halbousi begins his election campaign through the “shuffles” of the Anbar municipality
» Parliamentary Security: Securing the border with Iran requires increasing the number of border guard
» Advisor to the Prime Minister: The government is facilitating the mechanisms for implementing housin
» The outlets announce the seizure of more than 1.3 billion dinars due to fraudulent tax receipts
» Agriculture reveals the possibility of reconsidering the “winter plan” based on water storage
» Sudanese announces the allocation of $4 billion in the 2023 budget to address poverty in the country
» The Minister of Finance participates in the Asian Bank conference in Egypt
» Al-Rafidain counts the number of accounts opened for citizens and other groups in its branches
» The Association of Private Banks reveals the development of electronic payment after Al-Sudani’s dec
» The central bank sells more than $190 million in currency auction
» The framework meets to discuss the Khor Abdullah file in the presence of Al-Sudani
» Iraq hands over to Egypt a list of names of those wanted in corruption cases
» Parliament reveals the huge cost of amending the salary scale...more than 8 trillion dinars
» The Presidency of the Republic comments on its disbursement of 75 million to send the President to a
» Foot-and-mouth disease costs livestock breeders 540 billion dinars
» Ending the burning of associated gas by the end of 2024
» An Iraqi-Qatari-French alliance approves a package of projects
» Extinguishing debts owed by the families of martyrs
» The government reaps the fruits of {productive diplomacy}
» Al-Sudani directs to prevent the use of “state resources” to support candidates
» A veterinary expert calls for quarantining areas of hemorrhagic fever outbreak
» Procedures for converting agricultural land to residential
» A call for public-private partnership in providing health services
» Electricity is preparing for winter
» Water storage forces agriculture to reconsider its winter plan