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Ed Webb

Follow the petrodollars: Why Gulf wealth matters to Britain is a question everyone shou... - 0 views

www.middleeasteye.net/...alth-matters-britain-174187744

UK Britain empire capitalism arms weapons GCC gulf book

shared by Ed Webb on 13 Dec 18 - No Cached
  • “The strategic value of the Gulf Arab monarchies to British capitalism and the British state,” Wearing writes, “has meant that securing and defending those monarchies from the threat posed by their own populations has long been a priority for London.” 
  • “the data show that the British government’s response to the new wave of demands for democracy region-wide was to continue a sharp increase in arms supplies to its key authoritarian allies”
  • Without doubt, Britain’s impressively violent imperial history also raises all manner of “moral questions”. And as Wearing makes clear, it was during this very period of empire - comprising a century and a half of British dominance in the Gulf - that the foundations for contemporary interdependence were established.
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  • While British arms exports to the Gulf “help the UK to maintain the military-industrial capacity required as the basis for global power projection” in the neo-imperial era, Gulf petrodollars recycled through trade and investment deals also “play an important role in addressing the key macroeconomic challenges facing the British economy and in maintaining Britain’s status as a leading capitalist nation”.
  • Though Britain has of course long been surpassed by the US in terms of superpowerdom, it maintains an “active commitment to the continuation of US hegemony … with its own state and capitalist interests seen as best pursued within that overall framework”. Given that dominance of the Gulf is crucial to the maintenance of hegemony, Wearing argues, British dealings in the region “should be understood as complementing and reinforcing US efforts to entrench a conservative regional order oriented towards Western power”.
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