Although the appendices and tables help the reader grasp the nature of Khaleeji Capital, the book is not reducible to this important mapping exercise. To this end, Hanieh repeatedly draws attention to a Gulf state development strategy based on the exploitation of migrant labor. As an illustration of how this system operates, Hanieh details how the worst effects of the financial crisis were displaced onto labor-sending regions in South and Southeast Asia through mass layoffs and the deportation of migrant workers. Arab Spring. Finally, Hanieh persuasively argues that the same elements that made the GCC what it is today are likely to persist for the foreseeable future i.
Hothouse capitalism in the Gulf Arab states | International Socialist Review
Accordingly, he shows how the current global financial crisis has only served to deepen the strategic orientation of Khaleeji Capital towards further regional integration. Hanieh also notes that this trajectory is not preordained or irreversible. He is attentive to the possibility that sharpening regional tensions and inter-capitalist rivalries may engender a reorientation of the Gulf towards new geopolitical alignments for instance towards East Asia.
Capitalism and Class in the Gulf Arab States thus provides an essential template for reading current political developments and projecting future trends in region. More importantly, it fills a critical gap in our understanding of early 21st century global capitalism. When taken together, all of these factors give this book the quality of an urgent intervention in the field of political economy.
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