China and the Arabian Sea

by Philip McCrum
published in MER256

“As I speak,” said Khalid al-Falih, the chief executive of Saudi Aramco, in an address at Tsinghua University in Beijing in November 2009, “a tanker full of Saudi Aramco petroleum is passing a container ship laden with Chinese manufactured goods bound for the Kingdom’s ports.” As he went on to remind his audience, “Chinese industry and commerce depend on the reliable supply of our oil to fuel their factories, and we in turn use Chinese equipment and services in our fields and facilities to maintain our reliability.”

From the Editor

by The Editors
published in MER256

On July 6, the impish economic historian Niall Ferguson took the podium at the Aspen Ideas Festival, an annual seminar series for the rich and powerful on how to remain rich and powerful. Ferguson, as is his wont, began by tweaking the perpetual American reluctance to admit that the United States is an empire. “You’re the redcoats now,” the Oxford-trained Scot said in a stage whisper.