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Israel and China - A Marriage Made in Heaven, Except for Energy Issues
(Oil Price) - John Daly - China and Israel are the most pragmatic of partners. For China, Israel's prime attraction is as a source of cutting-edge high technology, for Israel, its gaining a foothold in the world's largest market. Military cooperation between the two nations is deepening - according to Xinhau. During a May 21 meeting in Beijing China and Israel pledged to boost ties between their armed forces as their chiefs of staff held talks. China's People's Liberation Army General Staff chief Chen Bingde told the IDF's chief of staff Benny Gantz, "Military-to-military ties between the two nations have also grown along with the overall bilateral relationship." Underlining the importance of his visit, Gantz also met with Chinese Vice President Xi Jinping. China is now Israel's third-largest trade partner, after the European Union and United States. In 2011 Israeli-Chinese bilateral trade exceeded $8 billion, roughly 20 percent higher than in 2010. What could cloud this otherwise sunny picture? Iran. China relies on Iran for roughly 10 percent of its oil supply and has repeatedly rejected intensifying UN sanctions against Iran for its nuclear activities.