Davos

In Davos, the irony was that it was the leader of communist China who preached a message in favour of open markets and globalisation.

The rise of China will be a source of global stability not conflict, major oil supplier Saudi Arabia said at the World Economic Forum in Davos on Tuesday January 17th. "As China gets integrated into the world, and into the world financial and economic systems, it has a tremendous interest in stability of those systems," Saudi Foreign Minister Adel al-Jubeir said. "And so I think the rise of China should be one that is welcomed, not one that is viewed as a source of a threat," he told a discussion in the Swiss resort, where 3,000 members of the political and business elite gathered for annual talks. Asia is the number one market region for Saudi Arabian oil.