There is no doubt that China is quickly becoming dominant player in the world economy. Where America and Western Europe led in the past, Chinese markets are taking the lead. The Chinese have a near endless labor market and vast natural resources and of course a drive to succeed that appears to be enabling it to take the lead in the world’s economy. Even China’s deleveraging is translating into something positive for the county.
The important question for Oman and other Persian Gulf states is how will China’s rising to world hegemonic power translate to positive growth for local economies in the gulf region. The answer can only be positive. China’s rise gives Oman and other Persian Gulf states a huge market for oil. Chinese money has already found its way to the Persian Gulf in many business ventures. Its clear that this trend will only continue in the future.
Chief Executive Director General of the Arab Company for Petroleum Investments APICORP, Ahmed Al-Naimi, the company will contribute to financing projects in new and renewable energy that are performed in the UAE, and in Abu Dhabi in particular.
Omran News reports that the Kuwait Stock Exchange (KSE) declined 9.43 points to end the trading day to settle at 7.6664 points. The volume of shares traded was 9.98 million shares valued at about 6.15 million Kuwaiti dinars, for 2307 cash transactions. The index of the sector and one out of eight as the industrial sector recorded a rise of 1.24 points, while the services sector was the biggest losers among the sectors with 107 points, followed by the investment sector down 2.79 points, and the food sector a decline of 51 points.