Will the Gulf countries form a global pole and get out of the dominance of the dollar?

French President Emmanuel Macron acknowledges that the world will turn to multipolarity in the wake of the Russian war in Ukraine, and hundreds, if not thousands, of politicians and analysts around the world agree with this view.

The United States and the European Union failed to dissuade or deter Russia, the rising pole of pluralism and perhaps its originator, to stop the attack on Ukraine, to restore the status of the Soviet Union to its previous era, and it is clear that with the rise of the other poles, the matter will not stop at two poles, but rather that China is seeking to Imposing herself as the owner of a word and a decision also competed in that astronomy.

With this pluralism and the changes in the new world order, the opportunity is available to the Arab countries united to take their place in the multilateral space, and what is required of the Gulf states to take the initiative quickly to lead this alliance and the pole, and it is also certain that the Arab pole will be important with the help of the decline and vibration of the American position internationally.

The power of the Arab pole stems from the economy and its basis is investment, taking advantage of the enormous wealth that it possesses over an area of 14 million km. It is a society that is the second largest in area after Russia (17 million km). It possesses in its hollow and depths mystical wealth, while its land surface is considered the most fertile in all parts of the world.

Last year, the size of the Arab economy outperformed the eighth largest economy in the world, the Italian economy, with a GDP of 1.88 trillion dollars, while it was less than the seventh largest in the world, the French economy, with an output of 2.6 trillion dollars.

The Gulf economy in its six countries (Saudi Arabia, the Emirates, Kuwait, Oman, Qatar, and Bahrain) accounted for about 58.8 percent of the Arab economy in 2020, as the GDP of the Gulf countries amounted to about 1.41 trillion dollars. Therefore, the initiative must be launched from the Gulf countries in the first place, which It has a financial and economic reputation and competes in its economic visions and advanced projects during the coming years, the great countries.

The march that Saudi Arabia started in studying selling its oil to China in the yuan is considered a major economic revolution and it is important that Riyadh continue to impose its position in proportion to its own economic and political interests, away from American interests that impose the dollar for any commodity sold in the world, and the Kingdom has proven Its ability and its position as a regional Arab country that is a leader in the Islamic world and helped save the world from the dominance of the US dollar over the world that has continued since the 80’s.

Saudi Arabia and the UAE in particular should lead the Arab world to form a large economic and political bloc, to maintain the cohesion of the Arab economy, as most of the densely populated countries and major economies remain captive to the American banking system as long as they adhere to dealing in dollars.

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