This paper is part of an MEI scholar series, titled “Obama’s Legacy in the Middle East: Passing the Baton in 2017.” Click here to view the full project, or navigate using the table of contents to the right.
Thanks to unprecedented current account surpluses, the Gulf Cooperation Council (GCC) countries are investing billions abroad and looking more toward the East. The GCC’s growing trade ties with China have been accompanied by encouraging development in investment relations. For these countries, investment projects in China promise access not only to large and rapidly growing energy markets, but also to other booming sectors.
This essay explores recent GCC investment in sectors of the Chinese economy other than the petrochemicals industry and examines the challenges confronted by Gulf investors.
The rise of China and India, coupled with major changes in the global energy market such as the US shale revolution have shifted the Gulf countries’ economic focus towards the Asian continent. East Asia has already emerged as the GCC’s most important trade partner, accounting for over 57% of its external trade.
One way to grasp the immense difficulty facing President Obama as he tries to forge an effective international coalition to oppose the Islamic State is to examine the difference between this effort and the last time the United States led a diverse group of countries to take on a conflict in the Middle East: Operation Desert Storm, in 1991.
Over the past four decades, economic relations between the Republic of Korea (hereafter Korea) and the Gulf Cooperation Council (GCC) countries have been focused on two sectors. Given the lack of energy resources in Korea, the GCC countries have provided oil and gas for Korean manufacturing, electricity, transport, and related activities. These countries have also provided Korea with business opportunities in the construction sector, including the building of expressways, seaports, and industrial plants.
Geography alone should make the Arab world Iran’s key foreign policy focus. Of Iran’s 13 immediate neighbors, seven are Arab countries.[1] But Tehran’s approach to the Arab world, with its 22 states extending from North Africa to the Arabian Peninsula, varies widely in intensity, and Iran’s objectives are equally varied depending on the country in question.
In terms of its capacity, potential and aspirations, Korea attained the status of a “middle power” more than a decade ago. Membership in the OECD’s Development Assistance Committee and G20 signifies the completion of Korea’s transition from an evolving to advanced economy. Korea has emerged as an important player in Asian and international affairs. Its presence and influence have expanded in trade, investment, overseas development assistance (ODA) and humanitarian aid, and culture.
The Middle East Dialogue is a regional Track II forum that meets twice a year and brings together current and former officials and senior experts from the Middle East, the United States, Russia, China, and the EU to discuss emerging political & security trends in the region. What follows is a report from the latest meeting of the Dialogue in Erbil, Iraq, on March 30-31, 2014, led by MEI’s Director of Track II Dialogues Randa Slim and VP for Policy and Research Paul Salem.
The political crisis in Ukraine and subsequent annexation of Crimea by Russia have sent reverberations throughout the Middle East, where Western and Russian influences continue to weave a complex geopolitical web. MEI interviewed four of its scholars to produce this detailed account of the challenges the conflict poses to the region’s political, security, and economic conditions.
In the wake of the revolutionary fervor that has swept the Middle East and North Africa since the beginning of 2011, retributive justice has taken precedence over restorative justice approaches as countries seek to address human rights violations.
A tale of how the CIA set sail into the Middle East with the best intentions, ran aground on its own failings, and was overwhelmed by forces and events it could not control.
During the 1970s the Communist Party dominated almost all walks of life in Vietnam. This strict control, especially in regard to the economy, failed to achieve sustainable development. Vietnamese authorities then began to pursue a policy of openness to the outside world, and the Doi Moi, or “renovation,” was launched in 1986. As a result of this and other gradual reforms, Vietnam has become one of the fastest-growing economies in Asia, with annual GDP growth averaging 7.1 percent between 2000 and 2012—a rate that the country is expected to sustain over the next decade. In this context, Gulf Cooperation Council (GCC)-Vietnam relations are promising and may develop steadily over the coming years.
The nuclear deal with Iran, though still temporary and tentative, is ushering in a historic shift in the patterns of power, conflict, and diplomacy in the region. Like all historic shifts, it is laden with uncertainty and risk of new conflicts, but also carries with it potential opportunities for further diplomacy and finding common ground. Given the precedent of conflict and mistrust in the region, it is no surprise that the deal has raised concerns among many of America’s allies.
Keynote Speaker, Amb. Susan Rice, U.S. National Security Advisor.