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Don961 » May 5th, 2019
Economic reform in the Gulf: Who benefits ?
2019 - 05 - 02
Author: James Dorsey American writer specializing in the Middle East
Publisher: Al-Furat Center for Development and Strategic Studies
Translated by Heba Abbas Mohamed Ali
For Gulf leaders, long-awaited economic reforms will not be easy. The leaders of the Kingdom of Saudi Arabia and the United Arab Emirates, Mohammed bin Salman and Mohammed bin Zayed, have found that replicating China's economic growth model with tightening political control is already difficult and difficult,
They realized that reshaping the social contracts financed by the oil wealth was more difficult because the Gulf Arabs had to lose much more than ordinary Chinese. Social contracts in the Gulf countries succeeded in ways that social programs in China did not succeed, Between the state and the citizen in the Gulf, which means abandoning its political and social rights in exchange for providing prosperity on both sides
Moreover, Gulf leaders, who face increasing criticism of the Saudi-led war in Yemen and the consequences of the killing of journalist Jamal Khashoggi, also lack the political and economic influence that has allowed China to silence or marginalize its critics over its crackdown on Turkish Muslims in the province. Northwestern Xinjiang
The absence of a social contract based on social welfare in China has allowed the government to grow economically, lift millions out of poverty and provide public goods without harming ordinary citizens
As a result, China has been able to continue economic reforms without worrying that a reduction in social welfare benefits could trigger a general backlash and possibly threaten the system
Saudi businessmen and consumers, three years after Mohammed bin Salman's plan to see 2030 on diversification of the economy, complain about the rise in public service prices and the 5% VAT imposed recently
There is considerable doubt about the government's commitment to reducing reform costs through multi-billion dollar annual grants since the reforms were announced and the social contract rewritten
Unlike China, domestic or regional investment in the Gulf comes from the financial, technological or weapons industries, which in turn focuses on providing services, developing infrastructure and strengthening the capabilities of the state rather than focusing on industrial development and the private sector
The bulk of Gulf investments - with the exception of national oil companies and airlines - are files run by state sovereign funds or investments designed to strengthen the country's status and soft power
By contrast, China and India have used investment as a means to fight poverty, nurture the middle class and create an industrial base. Because of a small population, Gulf states are likely to ensure sustainability in services and oil and gas derivatives rather than manufacturing and industry
The $ 1 trillion Chinese belt and road initiative may be the Asian exception closest to some soft power investments in the Gulf, but this initiative will contribute to China's domestic growth as well as to reduce excessive domestic consumption of energy by state companies that are not subject to requests. Shareholders
Asian countries managed to manage investors' expectations in an environment of relative political stability. On the contrary, Saudi Arabia has damaged confidence in its ability to diversify its oil-based economy by halting its plans to include 5% of its national oil company, Saudi Arabian Oil Company (SAOC) or Aramco, as the world's largest bid
There is no doubt that China is no less despotic than the Gulf States, and there is a consensus between Hindu nationalism in India and the growing global trend towards urbanization, populism and non-liberal democracy.But what distinguishes a large part of Asia from the Gulf region and affects its economic success is the policies that ensure a relatively stable environment.
For its part, these policies focus on social and economic development rather than keeping order. This may be Asia's lesson for the rulers of the Gulf link
Samson » May 5th, 2019
Qatar and Turkey intend to establish a tourist city to accommodate 30 million people !
2019/5/4 20:07
Qatar and Turkey announced their intention to create the largest tourist city in the world, with a capacity to accommodate 30 million people, will be built on Turkish territory.
Qatar's state-run newspaper Al-Sharq reported on Saturday that it had signed a strategic partnership agreement with Qatar-based Tammiyat Holding Company and Sarafaz Real Estate Investment Company in Turkey, which is the first nucleus of the project to create the world's largest cultural entertainment city. A privileged location in one of Turkey's coastal cities."
The signing ceremony was attended by the Ambassador of the Republic of Turkey to Qatar and a number of investors and businessmen. "The estimated total area of the city is estimated at 6 million square meters, and this is expected to attract the largest of its kind in the world for entertainment, tourism and culture, 30 million tourists annually.
This project will be the first of its kind and a center of cultural communication between the peoples of the world. The Islamic civilization will have a prominent presence in it, and Qatar and Turkey will be the two prominent countries in the project to highlight their cultural components of the world. The project will also embrace the Qatari village, which will reflect the renaissance of Qatar, its cultural heritage and its distinguished human contributions."
According to the project organizers, it is expected to become the world's largest center for international conferences, summits, economic fairs, cultural festivals and sports courses, and will be the largest of its kind in terms of real estate investment.
"This is a natural extension of the everlasting relations between Qatar and Turkey," said Brik Bin Saeed Bin Smeikh, CEO of Tanmiyat Holding. "This is the largest project of its kind in the world, Projects implemented and implemented by Tanmiyat Holding Company in Turkey ".
He also noted that the final details of this city will be announced during a ceremony to be hosted in Doha soon. LINK
Source: Dinar Recaps
______________________________________________________
All articles, videos, and images posted on Dinar Chronicles were submitted by readers and/or handpicked by the site itself for informational and/or entertainment purposes.
Dinar Chronicles is not a registered investment adviser, broker dealer, banker or currency dealer and as such, no information on the website should be construed as investment advice. We do not intend to and are not providing financial, legal, tax, political or any other advice to readers of this website.
Copyright © 2019 Dinar Chronicles
Don961 » May 5th, 2019
Economic reform in the Gulf: Who benefits ?
2019 - 05 - 02
Author: James Dorsey American writer specializing in the Middle East
Publisher: Al-Furat Center for Development and Strategic Studies
Translated by Heba Abbas Mohamed Ali
For Gulf leaders, long-awaited economic reforms will not be easy. The leaders of the Kingdom of Saudi Arabia and the United Arab Emirates, Mohammed bin Salman and Mohammed bin Zayed, have found that replicating China's economic growth model with tightening political control is already difficult and difficult,
They realized that reshaping the social contracts financed by the oil wealth was more difficult because the Gulf Arabs had to lose much more than ordinary Chinese. Social contracts in the Gulf countries succeeded in ways that social programs in China did not succeed, Between the state and the citizen in the Gulf, which means abandoning its political and social rights in exchange for providing prosperity on both sides
Moreover, Gulf leaders, who face increasing criticism of the Saudi-led war in Yemen and the consequences of the killing of journalist Jamal Khashoggi, also lack the political and economic influence that has allowed China to silence or marginalize its critics over its crackdown on Turkish Muslims in the province. Northwestern Xinjiang
The absence of a social contract based on social welfare in China has allowed the government to grow economically, lift millions out of poverty and provide public goods without harming ordinary citizens
As a result, China has been able to continue economic reforms without worrying that a reduction in social welfare benefits could trigger a general backlash and possibly threaten the system
Saudi businessmen and consumers, three years after Mohammed bin Salman's plan to see 2030 on diversification of the economy, complain about the rise in public service prices and the 5% VAT imposed recently
There is considerable doubt about the government's commitment to reducing reform costs through multi-billion dollar annual grants since the reforms were announced and the social contract rewritten
Unlike China, domestic or regional investment in the Gulf comes from the financial, technological or weapons industries, which in turn focuses on providing services, developing infrastructure and strengthening the capabilities of the state rather than focusing on industrial development and the private sector
The bulk of Gulf investments - with the exception of national oil companies and airlines - are files run by state sovereign funds or investments designed to strengthen the country's status and soft power
By contrast, China and India have used investment as a means to fight poverty, nurture the middle class and create an industrial base. Because of a small population, Gulf states are likely to ensure sustainability in services and oil and gas derivatives rather than manufacturing and industry
The $ 1 trillion Chinese belt and road initiative may be the Asian exception closest to some soft power investments in the Gulf, but this initiative will contribute to China's domestic growth as well as to reduce excessive domestic consumption of energy by state companies that are not subject to requests. Shareholders
Asian countries managed to manage investors' expectations in an environment of relative political stability. On the contrary, Saudi Arabia has damaged confidence in its ability to diversify its oil-based economy by halting its plans to include 5% of its national oil company, Saudi Arabian Oil Company (SAOC) or Aramco, as the world's largest bid
There is no doubt that China is no less despotic than the Gulf States, and there is a consensus between Hindu nationalism in India and the growing global trend towards urbanization, populism and non-liberal democracy.But what distinguishes a large part of Asia from the Gulf region and affects its economic success is the policies that ensure a relatively stable environment.
For its part, these policies focus on social and economic development rather than keeping order. This may be Asia's lesson for the rulers of the Gulf link
Samson » May 5th, 2019
Qatar and Turkey intend to establish a tourist city to accommodate 30 million people !
2019/5/4 20:07
Qatar and Turkey announced their intention to create the largest tourist city in the world, with a capacity to accommodate 30 million people, will be built on Turkish territory.
Qatar's state-run newspaper Al-Sharq reported on Saturday that it had signed a strategic partnership agreement with Qatar-based Tammiyat Holding Company and Sarafaz Real Estate Investment Company in Turkey, which is the first nucleus of the project to create the world's largest cultural entertainment city. A privileged location in one of Turkey's coastal cities."
The signing ceremony was attended by the Ambassador of the Republic of Turkey to Qatar and a number of investors and businessmen. "The estimated total area of the city is estimated at 6 million square meters, and this is expected to attract the largest of its kind in the world for entertainment, tourism and culture, 30 million tourists annually.
This project will be the first of its kind and a center of cultural communication between the peoples of the world. The Islamic civilization will have a prominent presence in it, and Qatar and Turkey will be the two prominent countries in the project to highlight their cultural components of the world. The project will also embrace the Qatari village, which will reflect the renaissance of Qatar, its cultural heritage and its distinguished human contributions."
According to the project organizers, it is expected to become the world's largest center for international conferences, summits, economic fairs, cultural festivals and sports courses, and will be the largest of its kind in terms of real estate investment.
"This is a natural extension of the everlasting relations between Qatar and Turkey," said Brik Bin Saeed Bin Smeikh, CEO of Tanmiyat Holding. "This is the largest project of its kind in the world, Projects implemented and implemented by Tanmiyat Holding Company in Turkey ".
He also noted that the final details of this city will be announced during a ceremony to be hosted in Doha soon. LINK
Source: Dinar Recaps
______________________________________________________
All articles, videos, and images posted on Dinar Chronicles were submitted by readers and/or handpicked by the site itself for informational and/or entertainment purposes.
Dinar Chronicles is not a registered investment adviser, broker dealer, banker or currency dealer and as such, no information on the website should be construed as investment advice. We do not intend to and are not providing financial, legal, tax, political or any other advice to readers of this website.
Copyright © 2019 Dinar Chronicles
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