China is not about to cast off Iran, even in the event of a World War scenario. Recent sanctions from the EU have been met with intensifying sabre-rattling between Iran and much of the West...
If current disputes escalate into a World War, then China would not hesitate to back Iran, according to Major General Zhang Zhaozhong, a professor from the Chinese National Defense University.
Watch the dispatch below:
These sanctions continue to bring the two countries even closer together. From the South China Morning Post:
Sanctions against Iran have created more opportunities for trade with China, which totalled US $29.3 billion last year.
"China's economic ties with Iran have to some extent been made easier by Western divestment," said An Baojun , a researcher at the Chinese Academy of International Trade and Economic Co-operation, which is under the Ministry of Commerce. An spent several years in Iran studying Middle Eastern issues.
The volume of bilateral trade has increased more than tenfold over the past decade, from US$2.5 billion in 2000 to US$29.3 billion last year, according to China Customs trade figures collected by the Global Trade Atlas, a Geneva-based company that provides trade data to the private sector, the UN and the World Bank.
"As some countries retreat from the Iranian market," An said, "it actually creates more opportunities for some Chinese companies."
Here's a helpful infographic detailing the trading agreements between Iran and China (click to enlarge):
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*Hat Tip, Zero Hedge.
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