ملخص الجهاز:
While the book does explore the implications of the Gulf states’ financial slump, it also provides a nuanced analysis of their class structures and relation to the global capital system.
The author skillfully implicates the Gulf states in the 2008 financial crisis by labeling them as “junior partners” integrated into the production of the global capital system.
In the wake of the 1973-74 rise in oil prices, this excess cash (or petrodollars) fuelled the “financialization” of the capital system, thereby placing these states squarely in the middle of the particular form that the “financialized”/internationalized global market has assumed.
Hanieh posits that the class formation in the Gulf region has serious im- plications because it is so intimately tied to the larger global market.
While the specifics of the future might be uncertain, it remains clear that the class structuring of Gulf states will remain oriented toward the accumulative tendencies of global capital.