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“If we have to think about what’s more important for China, it is its relationship with the United States. I’m not saying that there must necessarily be cooperation, but China has always wanted to be in a position of strength. From that perspective, China has definitely gained a lot. And that’s more important than what capitals in the Arabian Peninsula really think at this point.
So I think it’s all about recognizing that there’s no absolute winner. It’s all about deciding which costs can be absorbed and which ones cannot. Especially with Donald Trump seeking a truce and already in a position of weakness, I think Beijing played quite smartly, with minimal investment.”
