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The Influence of OBAOR Strategy in the GCC Countries Essay Example

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The Influence of OBAOR Strategy in the GCC Countries

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The Influence of OBAOR Strategy in the GCC Countries. However, it is important to note that the UAE has over the years been able to experience sustained growth patterns even during extreme conditions and, in particular, the Dubai debt crisis. It can, therefore, be expected that the nation will continue to be an influential trade partner and not just as part of the GCC but also on an individual basis. In addition to this, the various free trade agreements between the UAE and other nations are seen to be the major economic drivers of the nation’s economy.In the recent past, the economic ties between GCC nations and other trading blocs have significantly increased. However, one of the nations that appear to be in the frontline when it comes to trading activities with GCC nations is China.

China, being one of the fastest growing economies in the world has in the recent past been trying to extend its trading block beyond the Middle East region. It has specifically targeted the Gulf nations as well as the African continent. The increased trading activities between the Gulf nations and China have seen an exponential growth in the respective regions. Gulf Nations as further placed China in a better position to become an economic powerhouse and probably surpass the United States economy (Zarrouk 2008, p. Political, economic, business, and diplomatic relation has improved between China, Asia, European, and Middle East countries due to formation of the New Silk Road.According to Junjie (2015), the Silk Road was formed many years ago, and it extends to China right from Europe. Some of us might think that Silk Road, as the name suggest, is just a road. However, According to the author, the Silk Road, both the ancient and the new one is the network that connects parts of Europe, Middle East and China, the route is land and maritime based. China is thought to have engineered the formation of Silk Road. China has done its best to achieve “One Belt, One Road” also known as the new Silk Road economic or OBAOR Strategy. Based on the archaeological study of the ancient Silk Road, Buddhism and Islam were introduced to China. The new Silk Road is set to bring more changes to China, Middle East and parts of Asia. Research shows that UAE is among the countries in the Middle East that has had many investors from China due to improvement in connection brought by the new Silk Road. The route. The Influence of OBAOR Strategy in the GCC Countries.

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