China Boom Spurs $1 Trillion Gain in Gulf Economies, HSBC Says

[Mao1949]

The surge in oil prices driven by Chinese demand has added $1 trillion to output in the Gulf Cooperation Council countries over 10 years, according to HSBC Holdings Plc.

The six-member bloc’s gross domestic product increased to $1.7 trillion between 2003 and 2013, bringing per capital GDP to an average of $35,000, HSBC said in a report on the effect of a “globalizing China” on the Middle East and Africa released today.

The wealth has helped countries such as Saudi Arabia and the United Arab Emirates spend hundreds of billions of dollars on infrastructure, and buy assets overseas including English soccer champion Manchester City. The Gulf’s non-oil economy is also growing 2 percentage points faster than it did before Chinese demand began to rise, HSBC said.

The region’s fiscal and current-account surpluses and economic growth “would have been unthinkable without surging energy demand from China,” Dubai-based economists Simon Williams and Razan Nasser wrote. “There would be no kilometer-tall towers in Dubai, no ski slopes in the shopping mall, no Gulf-owned football teams winning the English premier league, without the emergence of China as a global economic power.”

HSBC also said that Chinese banks and state-owned companies are set to play a growing role in the Middle East.

Four of the top Chinese banks have offices in the Dubai International Financial Centre, the emirate’s tax-free business park. The Dubai Jebel Ali Free Zone hosts 170 Chinese firms, more than double the number operating there in 2008, according to HSBC.

 

[AUz]

I have said it many times over. Good relations between Islamic World and China, based on mutual interests and benefits, and shared & equal respect for each other is a phenomenon that will benefit both Muslims and Chinese--and humanity at large.

The economic activity created by China's economic awakening will increase wealth and prosperity across the board. Islamic World is one of the richest resource region of the planet and Chinese need resources for development. This mutual partnership will benefit all of us. Chinese will get better life-style, while Islamic World will also improve its living-standards--and at the same time, Islamic peoples will use part of this newly acquired wealth to even further expand the reach of global Islamic Civilization, Islamic peoples, and Islamic cultures all through out the world.

Islamic Communities throughout the Western World, spanning tens of millions of people, are very important too. Global civilization of Islam spread and established itself in the heart of West...with tens of millions of people in the Western heartlands having Islamic worldview, practicing/spread Islamic culture, building Islamic architecture, bringing Islamic traditions, foods, and dresses in, and integrating in the wider society while keeping their unique Islamic identity/culture -----hence, making Islam an inevitable civilizational reality in the West. Heck, London now holds Islamic Finance conferences and what not? lol..Protection of these communities is vital--since they are representation and extension of global Islamic Civilization in the heart of West. West failed to develop anything like that in Muslim World, Mashallah. Now, with the rise of neo-nazis and far right in Europe..Muslim communities are being vilified. This can lead to some bad results.

With China becoming the largest economy in coming days, and subsequently more wealth-creation in Muslim World-- a lot of Muslim nations will invest even more heavily in military strength...With increased military strength of Islamic World, Islamic communities througout West will be much more safer Inshallah. Europeans/Westerners will risk destruction of their own selves if they ever thought of "final" solution regarding Muslims.

Turkish Military (over-whelmingly Muslim-majority military) is already the largest military on mainland Europe and is easily one of the top 4 strongest military forces on mainland Europe...and it will only get more stronger from here, Inshallah! Imagine Germany saying today "Oh, we have Turkish problem. We will holocaust Muslim Turks amongst us"...Turkey would be like "Uhhh, are you sure about that plan? " lol..

Muslims are no Jews and West already knows it.

Next 20 years are very important--all of these developments coming into fruitation, world becoming more balanced, and Muslims reaching 60 million in Europe Inshallah!

There have been thousands of religions/cultures/civilizations etc but only two of them are "the global/universal" civilizations.

Islamic Civilization and Western Civilization

We all know that relations between Western Civilization and China aren't that good. While relationship between China and Islamic World have always remained good. There have been no major conflicts...and Muslims have been existing in China for thousand plus years.

So as Islamic Civilization expands even further globally---it is better for China too. Islamic people have more respect for Chinese and have more interaction historically with the Chinese people than Europeans...

So if China remains neutral..and doesn't interfere in Muslim lands nor tries to exploit Muslim lands...and forms a good relationship with Islamic World...then it is a win-win for all of us.

There are few glitches in the strategic relationship between Islamdom and China (Syria, Uygur issue etc)..but that is expected as no relationship is perfect. Hopefully, with time, relationship will improve even further.

On this note..look at this

Pakistan becomes first country to deploy China's BeiDou GPS network

This improves Pakistan Military's strike capability by miles...and gives us independence from U.S GPS system...moreover, it can be used for Urban planning, resource management, and disaster management. Beidou network centers are being build inside Pakistan...so Pakistan will have access to the entire global system once it is completed! The accuracy, on completion, of Beidou is upto 5mm after processing.

Great developments going....

Interesting times we live in....

 

[Mao1949]

Biggest mistake China made was to agree to UN sanctions on Iran and agree to the no-fly-zone in Libya in the UN.