Historic rivals Saudi Arabia and Iran on Friday agreed to restore full diplomatic relations in a deal brokered by China. This will reduce tensions in Middle East but also indicated growing China's growing influence in the Gulf.

Senior director New Lines Institute Kamran Bokhari talks to Raza Rumi on this path breaking development.

This deal will lead to the reopening the embassies and diplomatic missions of Saudi Arabia and Iran within the coming two months. Accords on security cooperation and trade and investment will also be revived.

Is this sign of waning US power in the region and the globe. US-China global rivalry might intensify in the coming days.

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