Bringing together for the first time distinguished Gulf experts to analyse the renewed geo-economic prominence of the Gulf states, this volume investigates some of the 'new power brokers' in the world economy: the oil-exporting states of the Gulf. The Gulf Cooperation Council's (GCC) members: Bahrain, Kuwait, Oman, Qatar, the United Arab Emirates and Saudi Arabia, collectively have the largest proven oil reserves in the world and are among the world's largest oil-exporting states. Gulf Arab states are actively pursuing a variety of foreign investment strategies. Some of these investments are being managed by sovereign wealth funds, government investment corporations, and government-controlled companies. This renewed geo-economic status has received a lot of media attention but there has been a dearth of academic study on what this shift in global economic power means for the international economic system. This volume aims to fill this gap with a rigorous scholarly analysis based on primary sources and raw economic data. It brings together the expertise of academics who have devoted their career to careful study of the region and of renowned scholars of international political economy.

Bringing together for the first time distinguished Gulf experts to analyse the renewed geo-economic prominence of the Gulf states, this volume investigates some of the 'new power brokers' in the world economy: the oil-exporting states of the Gulf. The Gulf Cooperation Council's (GCC) members: Bahrain, Kuwait, Oman, Qatar, the United Arab Emirates and Saudi Arabia, collectively have the largest proven oil reserves in the world and are among the world's largest oil-exporting states. Gulf Arab states are actively pursuing a variety of foreign investment strategies. Some of these investments are being managed by sovereign wealth funds, government investment corporations, and government-controlled companies. This renewed geo-economic status has received a lot of media attention but there has been a dearth of academic study on what this shift in global economic power means for the international economic system. This volume aims to fill this gap with a rigorous scholarly analysis based on primary sources and raw economic data. It brings together the expertise of academics who have devoted their career to careful study of the region and of renowned scholars of international political economy.

This book examines Gulf Security in a holistic way seeing past the narrow military aspect and also trying to debunk the conventional narratives propagated by regional and external actors. In particular, the emphasis is be on the historical legacy of Gulf security and the fundamental domestic and international vulnerabilities of the various states in the region. This approach proves important in light of the recent efforts by Gulf states to recast their position in the international arena trying to peddle an image of self-assertiveness and autonomy in the security sphere. These new diplomatic stances do not seem to be borne out by their current security policies that are marked by apparent continuity with past practices. In particular, the new Gulf-Asia nexus and the claims by Gulf monarchies that regional confidence building measures are appearing on the horizon are placed under critical scrutiny. This is done by a sobering examination of the balance of threat in the region, the historical amity/enmity patterns and the evolving American stance. A shorter, modified version of this book was previously published as a special issue of the British Journal of Middle Eastern Studies.

Regional cooperation, regionalism and regionalization in the Middle East are usually considered to be weak and rather ceremonial. However, since September 11, 2001, a new regional order is emerging and the impact of geostrategic changes in the international environment have yet to be satisfactorily studied. With older regional organizations suffering from weaknesses, new forms appear to be developing and flourishing, whether because of European support or due to growing sub-regional identities. This volume offers refined theoretical models and approaches which are attuned to the new dynamics and contradictions of a wide range of regionalist projects in the contemporary Middle East. Case studies of the most important regional organizations in different policy fields offer comprehensive overviews of the main actors, institutions, historical development and current issues.

The Gulf Cooperation Council (GCC), made up of Saudi Arabia, Bahrain, Kuwait, Oman, Qatar and the United Arab Emirates (UAE), is one of the most resilient sub-regional organizations in the world, and the most successful in the Arab world. it has been the forum through which much security cooperation in this volatile sub-region has taken place, as well as the main representative for the UAE's territorial dispute with Iran over the Abu Musa and tunbs islands. the organization aims to enhance defence cooperation between its member states. it also has significant potential to foster economic integration and to present an alternative form of leverage over the international oil markets. Very little is known however about how the organization really works: how decisions are actually taken, as opposed to how this process is formally articulated in its charter, and what the GCC's real impact on member states, the gulf and international relations is.Drawing on cutting-edge ir theoretical perspectives as well as unique firsthand access to GCC decision-makers, Matteo Legrenzi explains the mechanisms of Gulf cooperation - and its limitations - in the context of economic globalization, diplomatic regionalization and the rise of Iran. Combining historical context, primary source investigations and theoretical analysis, this is a comprehensive guide to the GCC and an indispensable resource for anyone concerned with the Gulf and the Middle East.