In Pakistan, China and the U.S. are clashing over China’s One Belt, One Road initiative. To understand what’s at stake, it helps to take a look at why China is in Pakistan in the first place. ISLAMABAD—Saudi officials are due in Pakistan for talks starting Monday over a proposed multibillion-dollar oil refinery and other investments, Pakistani officials said, as Islamabad seeks new sources of outside cash to avoid falling further into Chinese debt. Saudi Arabian Oil Co., the state-run oil giant known as Aramco, is negotiating investing in the refinery, a person close to the Saudi side of the talks said. The refinery at the Pakistani port of Gwadar, near the strategic oil chokepoint of the Strait of Hormuz, would...

Source: Wall Street Journal September 30, 2018 18:08 UTC