Pigato, Miria2012-03-192012-03-192009978-0-8213-7776-5https://hdl.handle.net/10986/2626The spectacular economic rise of China and India over the past two decades has accelerated their trade with Africa, Latin America, and the Middle East and North Africa (MENA). Their demands for oil, gas, and other natural resources have been driving new relationships with MENA countries based not only on energy but also on trade, investment, and political ties. Indeed, Dubai has become the center of a new Silk Road, the intersection where people, capital, and ideas meet. And while the financial crisis that hit global markets in 2008 has placed downward pressure on growth, these new relationships are likely to deepen in the coming years. The report's main messages are as follows: a) demand for energy from China and India is expected to increase substantially in the future, thus greatly benefiting oil producing countries in the MENA region; b) the oil exporters in the Gulf have laid big bets on economic diversification and knowledge enterprises, bets they might win, but with lots of risk along the way. Oil price volatility may threaten the sustainability of the recent expansion; and c) the growth of China and India offers new market opportunities for the countries in MENA. Besides energy, potential opportunities, for fertilizers, petrochemicals, crude materials, agricultural products, and a number of manufactured goods where MENA has strong comparative advantages, remain unexploited.CC BY 3.0 IGOADJUSTMENT ASSISTANCEAGREEMENT ON TRADEAGRICULTURAL COMMODITIESAGRICULTURAL PRODUCTSAGRICULTUREAPPARELAPPAREL PRODUCTSBILATERAL AGREEMENTSBILATERAL COOPERATIONBUSINESS ENVIRONMENTCAPITAL FLOWSCAPITAL GOODSCAPITAL OUTFLOWSCAPITAL SURPLUSESCHANGES IN TRADECOMMODITYCOMMODITY PRICESCOMMUNICATIONCOMMUNICATION TECHNOLOGYCOMPARATIVE ADVANTAGECOMPARATIVE ADVANTAGESCOMPETITIONCOMPETITION POLICYCOMPETITIVE PRESSURESCOMPETITIVENESSCONSUMER PRICESCONSUMERSCONSUMPTIONCONSUMPTION RATESCOPYRIGHT CLEARANCECOPYRIGHT CLEARANCE CENTERDEMANDDEMOGRAPHICDEVELOPING COUNTRIESDEVELOPMENTDEVELOPMENT POLICIESDOMESTIC DEMANDDOMESTIC ECONOMIESDOMESTIC MARKETDOMESTIC MARKETSDOMESTIC PRODUCERSDOMESTIC PRODUCTIONDOUBLE TAXATIONECONOMIC CRISISECONOMIC DEVELOPMENTECONOMIC INTEGRATIONECONOMIC POWERECONOMIC RELATIONSECONOMIC STRUCTUREECONOMIES OF SCALEENERGY EXPORTSENERGY RESOURCESEQUITYEXPORT DIVERSIFICATIONEXPORT GROWTHEXPORT MARKETEXPORT MARKETSEXPORT OPPORTUNITIESEXPORT PERFORMANCEEXPORT PRICESEXPORT SHAREEXPORT VOLUMESEXPORTSEXTERNALITIESFINANCIAL CRISISFINANCIAL FLOWSFINANCIAL SECTORFINANCIAL SUPPORTFISCAL DEFICITSFORECASTSFOREIGN COMPETITIONFOREIGN DIRECT INVESTMENTFOREIGN INVESTMENTSFOREIGN INVESTORSFOREIGN MARKETSFREE TRADEFREE TRADE AGREEMENTFUTUREGDPGDP PER CAPITAGEOGRAPHIC DISTRIBUTIONGLOBAL CAPITALGLOBAL CAPITAL FLOWSGLOBAL COMPETITIONGLOBAL MARKETGLOBAL MARKETSGLOBAL STANDARDSGLOBAL TRADEGLOBAL TRADE ANALYSISGOODSGOVERNANCEGOVERNMENT SUBSIDIESGROSS DOMESTIC PRODUCTGROWTH RATESHUMAN CAPITALIMPORT DUTIESIMPORT MARKETSIMPORT PRICESIMPORT PROTECTIONINCOMESINDUSTRIAL PRODUCTSINDUSTRIAL SECTORINDUSTRIALIZATIONINPUTSINSTITUTIONAL INFRASTRUCTUREINTERESTINTERMEDIATE INPUTSINTERNATIONAL INVESTORSINTERNATIONAL MARKETINTERNATIONAL MARKETSINTERNATIONAL TRADEINVENTORYINVESTMENTINVESTMENT FLOWSINVESTMENT TREATIESINVESTORJOB CREATIONKNOWLEDGE SPILLOVERSLABOR MARKETSLIBERALIZATIONLIFE EXPECTANCIESMACROECONOMIC CONSEQUENCESMACROECONOMIC STABILITYMANUFACTURING INDUSTRIESMARKET ACCESSMARKET PENETRATIONMARKET PRICEMARKET SHAREMARKET SHARESMARKETSMULTILATERAL NEGOTIATIONSNATIONAL INCOMENATURAL RESOURCESNET EXPORTERSNEW MARKETNEW MARKET OPPORTUNITIESNEW MARKETSNEW PRODUCTSOIL EXPORTERSOIL IMPORTSOIL PRICEOIL PRICESOIL REVENUESOPENNESSOUTCOMESOUTPUTOUTSOURCINGPATTERN OF SPECIALIZATIONPORTFOLIOPOWER PARITYPREFERENTIAL AGREEMENTSPREFERENTIAL MARKET ACCESSPRICE VOLATILITYPRICESPRIMARY GOODSPRODUCTIONPRODUCTION STRUCTURESPRODUCTIVITY GROWTHPURCHASING POWERRAPID ECONOMIC GROWTHRAPID GROWTHRATE OF GROWTHREAL ESTATEREGIONAL INTEGRATIONREGIONAL TRADEREGIONAL TRADE AGREEMENTSREGIONAL TRADE INTEGRATIONREGRESSION ANALYSISREGULATORY ENVIRONMENTREGULATORY FRAMEWORKREGULATORY REGIMEREGULATORY REQUIREMENTSREPUTATIONRULES OF ORIGINSECURITYSHARE OF WORLD EXPORTSSPECIALIZATIONSTATISTICAL ANALYSISTARIFFTARIFF BARRIERSTARIFFSTAXATIONTECHNOLOGY TRANSFERSTELECOMMUNICATIONSTERMS OF TRADETHEORYTOTAL FACTOR PRODUCTIVITYTRADETRADE AGREEMENTTRADE AGREEMENTSTRADE BARRIERSTRADE DATATRADE DIVERSIONTRADE FLOWSTRADE LOGISTICSTRADE MODELSTRADE PATTERNSTRADE POLICIESTRADE POLICYTRADE PROTECTIONTRADE RELATIONSTRADE SHOCKSTRADITIONAL MARKETSTRANSACTION COSTSTRANSACTIONS COSTSTRENDSUNEMPLOYMENTUNFAIR COMPETITIONUNSKILLED LABORVALUEVALUE OF IMPORTSWAGESWEALTHWELFAREWORLD DEVELOPMENT INDICATORSWORLD ECONOMYWORLD MARKETSWORLD PRICESWORLD TRADEWORLD TRADE ORGANIZATIONWTOWorld Bank10.1596/978-0-8213-7776-5