China’s Ailing Clean Energy Industry Eyes Remedy in Saudi Arabia
- Chinese companies are increasingly beset by trade barriers
- Deepening relations to help the kingdom expand beyond oil
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Saudi Arabia has for years invested in China’s fossil fuels industry, cementing ties with one of the biggest customers for its massive oil exports.
Now Beijing is repaying in kind. China’s clean energy firms are looking to the Middle Eastern kingdom to globalize their manufacturing bases as firms come under unprecedented margin pressure at home and trade tensions worsen with the US and its allies.