Assessing how an oil-backed digital currency could provide Gulf hydrocarbon exporters partial monetary policy independence and enhanced global influence in a context of strategic competition between China and the United States and de-dollarization.
The competition between China and India continues to grow, driven by territorial disputes and China’s growing strategic dominance and assertiveness. Both countries are also increasing their demand for energy and raw materials to fuel their economic growth. In this report, Dr Narayanappa Janardhan (Anwar Gargash Diplomatic Academy) and Nicolas Dunais (Azal Advisors) argue that Gulf policymakers should pursue a balanced relationship with China and India, avoid “picking sides”, and where possible, encourage them to cooperate rather than compete in the commercial and security realms.
For the GCC’s oil & gas exporters, a shift towards the petro-yuan has long been perceived as detrimental to the strategic security partnership with the United States. In our latest report, the Atlantic Council’s Jean Francois Seznec and Azal Advisors Principal Nicolas Dunais argue that the combination of energy-flow rebalancing, loose US monetary policy, and financial reforms in China are paving the way for a broader acceptance of the renminbi by Gulf hydrocarbon exporters while minimizing risks to the relationship with the United States.
Contributions by Azal Advisors experts on how GCC States should prepare for 2021: economy, society and security policy pathways.