Jordan’s Economy Weathers Iran War’s Shocks and Finds New Opportunities
In the summer of 2003, King Abdullah II told Bloomberg Jordan sits “between Iraq and a hard place,” a play on words designed to describe the kingdom’s challenging environment to an American audience amid the US-led Iraq war to the east and the lingering Palestinian-Israeli conflict to the west. Jordan is grappling with a much “harder place” today.
Gulf Political Economy: The Cost of Accommodating Iran
There may be no near-term resolution to the conflict between the United States, Israel, and Iran. The cease-fire and memorandum of understanding (MoU) signed on June 18 have broken down, there is little diplomatic engagement, and new flare-ups in early September indicate a further round of escalation. Gulf states may have no choice but to protect their assets and populations while trying to deter Iran by finding mechanisms of both containment and accommodation.
Gulf Energy Markets: The Region’s Edge Will Survive — At a Price
Across the Gulf, views differ widely on how the Iran war can and should end, and what the region will look like once it does. Yet on the crisis over the closure of the Strait of Hormuz, the view is near-unanimous that a repeat is not only possible but likely. That expectation, more than any single incident over the past year, is becoming a major driver of decision-making in industry and policy circles alike.
Following a royal rift King Abdullah faces daunting choices
April 11, 2021 was to be a day of celebration and national pride marking the kingdom of Jordan’s centenary as a state — a geopolitical feat in itself few thought was possible a century ago. But instead of pomp and ceremony the festivities were overshadowed by stark events that took place a week before when the government unveiled a “plot” to destabilize the country involving a senior member of the royal family, a close former palace aide, and “outside entities.” This was an unprecedented development in the history of the kingdom and ruling monarchy. The implication of Prince Hamzah, the former crown prince and half-brother of King Abdullah, in a fuzzy conspiracy that is tantamount to a coup has shocked Jordanians from all walks of life.
The China-Iran deal and the reinvention of the Iranian revolution
The announcement of the Comprehensive Strategic Partnership (CSP), a 25 year-long economic and development agreement between China and Iran, has immediately added to the intensifying discourse concerning US-China Geostrategic Competition. Nonetheless, a closer look at its implications suggests that it may be useful in achieving some U.S. goals with Iran: particularly regime modernization.
For many years, the United Arab Emirates (UAE) has thrived as a result of its ability to attract talent from abroad. On Jan. 30, 2021, Sheikh Mohammed bin Rashid al-Maktoum, the vice-president and prime minister of the UAE and ruler of Dubai, announced on Twitter[1] an amendment to the law that is designed to entice and retain foreigners by permitting a select group of expatriates to become Emirati citizens without giving up their original nationality.
Egypt should go green by putting a price on carbon
It is time for Egypt to put a price on carbon. While Cairo has taken small steps toward developing a sustainability plan, it needs a bold idea to stop rising carbon emissions. Establishing a carbon exchange — or putting a price on carbon — would be good for the country and help make Egypt an environmental leader in the region.
Lebanon’s economic crisis: A tragedy in the making
For the past 18 months, Lebanon has been reeling from a wrenching economic crisis. This essay deciphers the crisis’s origin, describes the current juncture, and reflects on the likely outcomes in the proximate future.
6 Key Steps for Targeted US Diplomacy to Stabilize Lebanon and Advance US Foreign Policy
The Middle East Institute and the American Task Force on Lebanon (ATFL) have collaborated with the Lebanese International Finance Executives (LIFE) to produce an urgent Lebanon-focused policy brief. The brief outlines recommendations to the Biden Administration for empowering an international coalition to support the Lebanese people and strengthen their capability to promote real change.
Chinese Technology in the Middle East: A Threat to Sovereignty or an Economic Opportunity?
Recent moves by Chinese tech giants have raised concerns in Washington about Beijing’s technological outreach to developing nations. To stem the international growth of these companies, the U.S. has discouraged countries from adopting Chinese technologies through efforts like promoting the Clean Network Initiative. Countries across the globe often must choose between Chinese or Western technology, and these choices have broad implications.
Out of ill-will and incompetence, Lebanese decision-makers continue to violate macroeconomics’ most fundamental principles in their handling of Lebanon’s financial meltdown. Erroneous — or worse still, inexistent — fiscal and monetary policy choices are amplifying by the day the devastating socioeconomic repercussions that the country will face for years, if not decades, to come.
“The war of hunger … scares me more than the war of cannons”: As inflation soars, Syria’s economy spirals downward
As the Syrian conflict reaches its 10-year anniversary, the economic consequences of a decade of war have been nothing less than catastrophic. Instability and inflation are likely to remain major problems over next 10 years — and possibly well beyond — but for now they have created a new level of despair in government-held areas. The Syrian economy has entered its most fragile phase yet and the prospects of a serious recovery remain all but a distant hope as the fiscal challenges confronting the country far outweigh the meagre remedies on offer.
The oldest peer-reviewed publication dedicated to the study of the modern Middle East, MEI’s flagship journal covers politics, society, and culture in the region.
