BlackHouse, Aug. 20 – Middle East political analysts believe a silent economic war is occurring in the region.
The expansion of Gwadar port in Pakistan is changing the economic agenda of the entire region and analysts predict that the economic power of Dubai is diminishing and after ten years, all its power will eventually fade out.
Gwadar port is the most serious rival of Dubai and by the financial support of China and also Qatar is expanding increasingly. On the other hand, India and the UAE are doing their best to confront this expansion as they know the negative result of such developments. The noteworthy point is that Saudi Arabia is also planning for attracting tourism by turning 50 Red Sea islands into luxury tourism resorts. All these recent developments are against the interests of Dubai as the economic hub of the region.
Analysts call the recent geopolitical and geoeconomic developments as the “silent economic war.” China, Pakistan and Qatar formulated their economic agenda based on the potential capacity of Gwadar port so that to make it the transit hub of the region. Saudi Arabia is also aiming to become the tourism pole of the Gulf. Meanwhile, the UAE not only will lose its transit and tourism power in near future but also will have no alternative, as it lacks any gas and oil natural sources, for compensation. Dubai would practically experience the final years of its economic power and will see its end in ten years from now.