The Gulf’s boundless ambition to change the world
Now it wants to export its model. But the region faces grave dangers
If you thought the Middle East was stagnant, think again. The Gulf economies are among the richest and most vibrant on the planet, helped by a Brent crude oil price that rose back to over $90 per barrel this week. A $3.5trn fossil-fuel bonanza is being spent on everything from home-grown artificial intelligence models and shiny new cities in the desert, to filling the coffers of giant sovereign-wealth funds that roam the world’s capital markets looking for deals.
This article appeared in the Leaders section of the print edition under the headline “The new Middle East”
Leaders September 9th 2023
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