ABSTRACT
The creation of the Gulf Co-operation Council (GCC) is a milestone in Arab efforts to develop closer contacts, not only politically, but economically. This chapter concentrates on the possibilities of, and the potential for, economic co-operation among the Gulf states, particularly within the framework of the GCC. It is not only the stock market, but the discount rate, the rate of interest; even General Motors is doing better. Among the economic problems or obstacles voiced about the Gulf states is their limited size; it would be preferable to hear more about the potential of these countries to work together economically. Avoidance of such duplication is much needed in the current depressed world market for petrochemicals, and for potential investment decisions regarding industrialization and economic diversification. Considering that the competition will be severe in the developing rather than the developed countries, the author think the potential there is significant indeed.
