The Economic Statecraft of the Gulf Arab States: Deploying Aid, Investment and Development Across the Menap (Young Karen E.)(Paperback)

For much of the post-World War II era, the U.S believed that its model of investment and development represented the only means of building aspirational democratic capitalism, and was therefore unfettered by serious competition. That is no longer true. This book examines how the Gulf Arab states are emblematic of the new model of state-led growth and a South-South trend that challenges existing institutions and practices of development finance, as well as global capital markets. The book analyses the GCC states' capital flows in comparison with investment and aid from the United States, Europe and China. Karen Young reveals that the Gulf Arab states - especially Saudi Arabia, the United Arab Emirates and Qatar - are the new 'master developers', creating sources of development finance through loans or foreign direct investments. Through this type of 'debt trap diplomacy' - and
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