The GCC-ASEAN-China summit this week contained a lot of platitudes about boosting trade and investment between China and the Gulf. But it doesn’t change our view that the Gulf’s geopolitical alignment is tilting away from China and towards the US. Meanwhile, the latest trade figures out of Saudi Arabia show that lower oil prices are already weighing on exports and, with this likely to continue, fiscal policy will need to tighten further to reduce import demand and rein in the budget deficit.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services