Nader Habibi, Henry J. Leir Professor, Crown Center for Middle East Studies Brandeis University Waltham, Massachusetts.
Growth in economic relations of China and India with the GCC countries
Version of Record online: 1 NOV 2011
© 2011 The Author. Journal compilation © 2011 Crawford School of Economics and Government, The Australian National University and Blackwell Publishing Asia Pty Ltd.
Asian-Pacific Economic Literature
Volume 25, Issue 2, pages 52–67, November 2011
How to Cite
Habibi, N. (2011), Growth in economic relations of China and India with the GCC countries. Asian-Pacific Economic Literature, 25: 52–67. doi: 10.1111/j.1467-8411.2011.01311.x
- Issue online: 1 NOV 2011
- Version of Record online: 1 NOV 2011
The oil-rich Arab countries of the Gulf Cooperation Council (GCC) have rapidly expanded their economic relations with Asian countries recently, particularly China and India. The main reason behind this development is that the regions complement each other in several dimensions. China and India are the fastest-growing, oil-consuming nations in the world, while GCC countries have the largest proven deposits of oil and gas. The GCC is interested in China and India as reliable oil customers over the long-run and the latter look at the GCC as reliable suppliers of oil and gas. The two regions are also attracted to each other because both are enjoying strong economic growth and offer many investment opportunities to the other. It is expected that GCC economic relations with China and India will grow stronger in the coming decades and serve as a good example of South–South economic cooperation for other developing countries.