How Xi Jinping is challenging dollar dominance with landmark Saudi deal

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The Chinese president’s warm reception on a visit to Riyadh was symbolic of deepening ties between China and Saudi Arabia - Royal Court of Saudi Arabia/Anadolu Agency When Xi Jinping visited Riyadh, Saudi officials rolled out not a red but a purple carpet. The Chinese president’s plane was escorted by Saudi jets spurting green and white smoke to symbolise the colours on the Gulf nation’s flag. Celebratory cannons were fired. A royal guard on Arabian horses escorted President Xi to the Royal Palace. The warm reception during the visit last December was symbolic of deepening ties between China and Saudi...