Recently, the United States has expressed strong dissatisfaction with the resale of chips in Middle Eastern countries and has taken restrictive measures. Huawei's recently released Mate60 phone equipped with Kirin core has attracted the attention of the United States, and the Biden team believes that China cannot independently produce 7nm chips under the US chip blockade. However, Saudi Arabia has suddenly become the focus, with the United States suspecting Middle Eastern countries of reselling chips and technology to China. In response to this situation, U.S. Secretary of Commerce Raimondo issued a new export control policy to Nvidia and AMD, two U.S. chip giants, requiring restrictions on the export of high-end chips such as artificial intelligence to Middle Eastern countries. This move appears to be aimed at the Middle East, but it is actually aimed at hitting China.
This restriction has sparked strong resentment among countries in the Middle East. Saudi Arabia will be forced to withdraw from US AI investments and be asked for a stake in OpenAI. As a company that launched ChatGPT this year, OpenAI has attracted much attention. However, the Saudi side fought back hard, even announcing that it was considering terminating the petrodollar agreement. The petrodollar is an agreement that uses oil transactions to support the dollar, in which Middle Eastern countries convert the proceeds of oil exports into dollars and use those dollars to buy U.S. Treasury bonds or invest in the United States. If the United States continues to exert pressure on Middle Eastern countries, the Middle East may choose to replace the dollar with other currencies, which will have a significant impact on the geo-economic interests of the United States.
The United States has long pursued hegemony in oil and chips, which has made the world turbulent. Petrodollars, as the dollars obtained by Middle Eastern oil-producing countries after selling oil, are reinvested in the chain of interests of the United States, which once made the United States the biggest beneficiary. Today, however, the rift between Middle Eastern countries and the United States is deepening, which will have a significant impact on American economic interests in the region.
The oil and chip hegemony strategy of the United States seems to be beneficial to its own interests, but it is actually a fast lane to the cliff. The pursuit of hegemony can lead to instability in the world, which will ultimately isolate and harm one's own interests. Therefore, the United States should carefully weigh its options. At present, the dispute between the United States and Middle Eastern countries is not limited to the commercial and technological spheres, but also involves a contest of geopolitical and economic interests. Borders are being reshaped, and the situation is becoming more complex.
In the face of a tough stance from Middle Eastern countries, the United States must take seriously the trade-off between oil and chips. The pursuit of oil and chip hegemony could have a cascade of consequences, including the loss of geoeconomic interests in the Middle East and the search for alternatives to the dollar by Middle Eastern countries. This is a huge challenge for the United States, and at the same time, it also provides an opportunity for the United States to reflect on and adjust its own strategy.
The United States should recognize that excessive pursuit of hegemony may harm its own interests. Rather than suppressing the development of other countries through restrictive measures, it is better to establish partnerships with Middle Eastern countries to jointly promote the development of global science and technology and economy. By strengthening international cooperation, the United States can gain more opportunities and partners to achieve a win-win situation.
In addition, the United States should further increase investment in technology research and development and innovation to ensure its competitiveness in the field of science and technology. Only through the improvement of their own strength can they achieve long-term competitive advantages and no longer be relied on and constrained by other countries.
The restrictions imposed by the United States have sparked a controversy over oil and chip hegemony, and relations between Middle Eastern countries and the United States are facing huge challenges. In the context of globalization and technological competition, the entanglement of interests between countries is becoming more and more complex, and weighing the pros and cons has become a problem that every country needs to face. As an important player in the global science and technology field, the United States should be more objective and rational in its own interests and international cooperation. Only by adhering to openness, cooperation and mutual benefit can we achieve lasting development and prosperity.