TY - JOUR
T1 - The Gulf Cooperation Council states
T2 - Crystallization of the regional cooperation and alliances amid dwindling resources
AU - Tok, Evren
N1 - Publisher Copyright:
© 2021 The Authors. Digest of Middle East Studies published by Wiley Periodicals LLC on behalf of Policy Studies Organisation.
PY - 2021/1/1
Y1 - 2021/1/1
N2 - The Gulf Cooperation Council (GCC) states can be divided into two main camps in terms of hydrocarbon endowment per capita which can partially account for differences in policy directions. Kuwait, Qatar, and the UAE (the rich triplet) have small populations while having large hydrocarbon (oil and natural gas) endowments compared to Bahrain, Oman, and Saudi Arabia. Kuwait, Qatar, and the UAE have been effectively using their excess wealth in the form of investment for domestic economic diversification and overseas investments through their sovereign wealth funds (SWFs). Therefore, the rich triplet perceives the upcoming threat of decarbonization of the world's energy system lighter than the remaining members of the GCC in view of their prosperity. The expected decrease in oil demand and revenue within the next decade will put further strain on the relationship between these states.
AB - The Gulf Cooperation Council (GCC) states can be divided into two main camps in terms of hydrocarbon endowment per capita which can partially account for differences in policy directions. Kuwait, Qatar, and the UAE (the rich triplet) have small populations while having large hydrocarbon (oil and natural gas) endowments compared to Bahrain, Oman, and Saudi Arabia. Kuwait, Qatar, and the UAE have been effectively using their excess wealth in the form of investment for domestic economic diversification and overseas investments through their sovereign wealth funds (SWFs). Therefore, the rich triplet perceives the upcoming threat of decarbonization of the world's energy system lighter than the remaining members of the GCC in view of their prosperity. The expected decrease in oil demand and revenue within the next decade will put further strain on the relationship between these states.
KW - GCC crisis
KW - Gulf Cooperation Council
KW - economic diversification
KW - policy transfer
KW - regime security
KW - regionalism
UR - http://www.scopus.com/inward/record.url?scp=85100018760&partnerID=8YFLogxK
U2 - 10.1111/dome.12226
DO - 10.1111/dome.12226
M3 - Article
AN - SCOPUS:85100018760
SN - 1060-4367
VL - 30
SP - 53
EP - 69
JO - Domes : digest of Middle East studies
JF - Domes : digest of Middle East studies
IS - 1
ER -