"A case can be made that after the Islamic Revolution 44 years ago, a budding “pivot to the East” always lurked behind the official government strategy of “Neither East nor West”. In practice, Raeisi’s visit to Beijing was framed to accelerate all manner of vectors in Iran-China economic cooperation – from crucial investments in the energy sector (oil, gas, petrochemical industry, pipelines) to banking, with Beijing engaged in advancing modernizing reforms in Iran’s banking sector and Chinese. banks opening branches across Iran."
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