An Australian newspaper reported yesterday that the countries putting Qatar under siege might have miscalculated their moves, weeks after the siege, QNA reports from Canberra.
The newspaper in an article titled “Qatar beats the Gulf blockade” noted that the Qatari economy is simple in its basic structure and is not dependent on intricate supply chains. The article also noted that trade between GCC members, apart from oil, was less than 10%.
The article also said that Qatar may be in a better position to weather the storm than the UAE or Saudi Arabia due to its smaller population and its sovereign wealth fund. It also said that the ability of Saudi Arabia and the UAE in dealing with Qatar will be limited, as their economies were affected by the decline in oil prices. They also won’t be able to pressure the State of Qatar’s trade partners as Riyadh is at the beginning of an attempt to open up its economy and establish itself as a place to do business, which will prove to be a challenge if they try to put pressure on global firms that have business with Qatar.
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