Gulf Cooperation Council

The GCC, which was formed in 1981, includes as section states Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the linked Arab Emirates. The GCC states do a combine population of approximating 13 million.

The Gulf Investment Corporation (GIC), which was created by the GCC in 1983 and which is funded by the member states of the GCC, was active during the 1987-1996 period in the promotion of economic development projects within all GCC member states. Projects funded by the GIC include steel rolling mills, aluminum smelters, cement works, fertilizer works, and major port facilities.

The disintegration of Afghanistan, the continuing conundrum of Iraq, the aftermath of the Gulf War of 1991 generally, the continuing Israeli-Palestinian struggle, and the re-emergence real or perceived of Iran as a major threat to the GCC states have continued to roil the political waters in the Arabian Gulf region specifically and the Middle East generally. The impertinently balance of power "constellations in Central Asia and the Middle East," however, are non pitting a unified pro-Iranian coalition against a unified pro-Western group of states. Iran has joined Turkey and Syria in an grounds to maintain the status quo. Among other objectives, these three states seek to interdict the rise of Kurdish nationalism. Iran, however, also has attempted (and continues to so do) to trade its own version of

"A Ghostly Shield." Economist, 316 (28 July 1990): 33.

All things have not been bright for the GCC, however, with delight in to the attainment of economic goals. Although both oil prices improved during the 1987-1996 period, the freely flowing money of the earlier era did not return.

GCC governments, however, did not adjust to the changing conditions, with the result being tangible dearth spending. Government deficit spending among the GCC countries has averaged more than eight-percent per year and has reached 15 percent in Saudi Arabia. Budget shortfalls were reflected almost only if in external accounts, which in turn led to inviolable current account deficits for the GCC countries. External and domestic deficits were financed initially from the substantial foreign reserves accumulated during the 1970s and early-1980s. With the exception of the United Arab Emirates, GCC countries depleted their assets and initiated foreign borrowing, which for the first time exposed their economies and economic policies to international scrutiny.

A goal of the GCC is to gain Iraqui compliance with all United Nations resolutions directed at Iraq. The more relevant of these resolutions to the GCC in the 1997-2001 period are as follows:

Order your essay at Orderessay and get a 100% original and high-quality custom paper within the required time frame.