Syria’s economy under Assad in shambles, China finds potentials amid despair

 

Bashar-al-Assad is leader of Syria for another sever year term. The country though may be slowly experiencing winding down of decade long Civil War, the splinters of pain and violence remain deep embedded. But Assad, as he took oath of office on Saturday, has ceremoniously declared himself as the only savior of Syrians and who can rebuild Syria. The claim was backed by his first foreign guest, China’s foreign minister Wang Yi. Mr. Yi laid out a marker during oath ceremony that they can get job started for Assad in Syria.

 

China’s modus operandi of grabbing opportunities:

 

China jumping into grabbing Syria’s economic turmoil as its safe haven of opportunities comes straight out of its classic playbook. The very similar fashion it did elsewhere in Middle East, as well as Africa and Asia.

 

Syria’s allies Russia and Iran have been by side of Assad regime with end target of reconstructing the country, with their own interests in mind. The line up has now been joined by China. Beijing has maintained a rather neutral stand amid fighting but now the opportunities have brought the player in picture.

 

With US departing abruptly from north eastern Syria some 18 months ago under Donald Trump presidency, China didn’t waste any chance to jump on the opportunity. According to a former British diplomat, “They know a vacuum when they see one. Especially if it involves capitalizing on US mistakes.”

 

But experts believe that it’s a big mistake investing in Syria. Syria remains in shambles as its north-east part has great stakes for Russia, while Turkey has its influence on north-western part. The regime has little to none control on the country’s resources and has been repeatedly seeking Iraq’s assistance. “China ought to take a look around,” said a Middle Eastern diplomat. “They are thinking this is a belt and road extension. But that’s an illusion. Syria is a poor investment for them.”

 

The country’s economy remains in great shambles due to extensive sanctions imposed on it even though war is winding down in most of the region. The global standing of Syria has been lambasted by the decade long war and chances of any breakthrough seem dim as country’s leader Bashar-al-Assad has a rather questionable past over his efforts of uplifting the nation.  

 

Osama Kadi, an exiled Syrian economist said that Syria’s economy is in its worst shape. “Syrians today are facing real famine. The proportion of Syrians living under the poverty line in the areas of the Syrian regime under the Russian area of influence has reached more than 90%, and the Syrian average monthly salary ranges between $15 and $40. Even the salary of a minister does not exceed $40 a month.”