Part 7/11:
The summit discussions highlighted an emerging triad of cooperation—between the Gulf, China, and India—focused on enhancing trade, investment, and technological exchange. Countries involved in these dialogues are leveraging their comparative advantages—for the Gulf, wealth and strategic positioning; for China, advanced manufacturing capabilities; and for India, a vast and growing market.
Several initiatives exemplify these efforts:
- Project Mbridge: This ambitious effort involves UAE, Saudi Arabia, China, and others working to support national currencies in trade settlements. By developing infrastructure and policies that facilitate transactions in local currencies, these nations aim to reduce dependence on the US dollar.