ABSTRACT
This introduction presents an overview of key concepts discussed in the subsequent chapters of this book. The book brings together distinguished Gulf experts to analyze this renewed geo-economic prominence of the Gulf States. It analyzes the evolution of the rentier character of the Gulf Cooperation Councils (GCC) states. The book discusses the changing nature of the GCC states investment and trade patterns and their financial standing in the world. It focuses on the role of Sovereign Wealth Funds, financial institutions that are intermittently feared and sought after around the world following the ups and downs of the business cycle. The book highlights three factors which have facilitated the endurance of the Gulf States as rentiers; specifically vast oil wealth allowing for rapid commodity-driven development, the experience of many economic successes in diversification attempts away from oil and the responsiveness of Gulf governments to changing environmental situations.
