Stock-GCC-Trade
The current Middle East situation is shaping geopolitics and the wider economy. It's time that some nations took a different economic approach. Image Credit: Shutterstock

No one can overlook the painful events unfolding in the Middle East, which have resulted in tens of thousands of casualties and widespread devastation to the economy and infrastructure of some of the countries. Any rebuilding effort will cost tens of billions of dollars and across decades.

These events share similar causes, regardless of where they occur, as those instigating them have failed to learn from history. There are two approaches in the region: the first, led by the GCC countries, which have steadfastly advocated for cooperation, peace and development.

The second, led by certain regional powers, seeks expansion through force, even though the era of the sword has long passed. Every attempt at occupation or conquest since the Second World War has ended in failure, from the Korean War to Vietnam, and culminating with the invasion of Kuwait. While some countries have been divided for various reasons, that is an entirely different issue.

The GCC's approach has led to the development of prosperous and advanced countries with high living standards and the provision of humanitarian and development aid that contributed to the setting up of hundreds of projects in other countries.

The GCC countries take pride in their giant companies - Aramco, ADNOC, Qatar's gas industry, aluminium smelters in the UAE and Bahrain, Kuwait’s oil and chemical industries, Oman’s hydrogen production, and DP World, which operates dozens of ports across five continents, including in developed countries. Additionally, they have invested in human resources, establishing institutes and universities, including those specialising in technology and AI.

As a result, the GCC countries have gained global respect, with many nations competing to attract more visitors by waiving visa requirements. During their visits to other countries, including to Europe, GCC citizens are met with a warm reception and exceptional hospitality. The courteous welcome at passport officers fills GCC visitors with a sense of appreciation.

Constant catastrophes

In contrast, the policies of expansion and domination have led to catastrophic economic and humanitarian consequences for those countries pursing that course, and on those they seek to control. This has resulted in the displacement of their own citizens as well as others, with many tragically drowning in far off seas despite their nations' wealth, abundant natural and agricultural resources, and vast oil and gas reserves.

Meanwhile, decades of pride in occupying certain Arab capitals have yielded nothing but disasters. As we now witness the collapse of such designs and the return to logic and reason - but only after the devastation of Basra as the famous Arabic proverb says.

The GCC’s development approach focuses on domestic development and raising living standards for both citizens and residents and boosting local investments in preparation for the post-oil era. It also seeks to capitalise on international investment opportunities through participation and acquisition of major international companies, including technology companies. And harnessing this strategy in training and equipping citizens with advanced skills. At the same time, military expenditures are kept sufficient to protect their nations and deter any potential aggressors.

The other approach has been devastating, leading to the destruction of thousands of productive institutions, a decline in living standards, and the squandering of wealth to fund political agendas and useless military spending.

This approach has also resulted in the underdevelopment of education, with millions of children dropping out of schools to sell chewing gum, water bottles and tissues on the streets. Health institutions have collapsed, pollution rates have risen, and basic services and infrastructure remain severely underdeveloped.

A clogged – and destructive - perspective

The differences in the two approaches are starkly evident and have been underscored by current events for anyone with a sincere vision, free from fanaticism and nostalgia for the past and a return to the era of the sword, especially in light of the tremendous technology led advancements.

This in turn offers opportunities for all countries to harness in ways that benefit their own citizens and those of other nations. This is in view of the wise GCC approach that reiterates non-interference in others’ affairs while promoting cooperation based on mutual respect.

The past decades have demonstrated the success of the first approach, which has achieved significant milestones and contributed to providing essential development and humanitarian assistance.

The GCC countries adopting this approach were the first to respond to the needs of affected people, as we currently see in Gaza and Lebanon.

In contrast, the other approach has led to devastation and the perpetuation of backwardness, conflicts and wars, yielding zero achievements. Is there any lesson to be learned from this? It is hoped that reason and rationality will prevail in all countries, allowing them to harness their immense wealth for the benefit and happiness of all.