Countries in the Gulf Cooperation Council, whose economies have benefitted massively from natural resources like oil and gas, have been increasingly diversifying their economies beyond the hydrocarbon business.
“In terms of economic strategy, [the GCC countries have] gotten the message that oil is not going to be there for long,” says Adnan Mazarei, a senior fellow at the Peterson Institute for International Economics and former deputy director of the IMF’s Middle East and Central Asia department. “They’ve been aware that the geopolitical landscape is changing. They have a role to play by being a platform for various things in between these…
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