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.