Dubai: There is no quick resolution to the GCC-Qatar diplomatic row, according to an expert.
BofA Merrill Lynch Global Research, titled, “BofA GEMs Daily – Brazil improvement, UAE recovery, China capital flows highlighting the importance of resolving this row quoting the Institute for Near East and Gulf Military Analysis touched upon possible options to resolve as well as mitigate the damage to the fabric of the Council.
Dr. Theodore Karasik, director of research at the Institute for Near East and Gulf Military Analysis, said that although a quick resolution to the current GCC-Qatar diplomatic standoff is unlikely, a rapid escalation nearterm may also be unlikely for now. Further build-up of tensions would be needed for the GCC to consider implementing potential measures that may be disruptive, economically or otherwise, such as border or airspace closure, passport control, media campaign, or slowdown of common projects or investment.
Dr. Karasik highlighted that senior political figures sitting on the boards of various state owned entities may permit foreign policy to be projected into different arenas, including the economic arena. Lastly, the recent Abu Dhabi Executive Council reshuffle appears to show signs of transition to the younger generation within the current ruling family, according to Dr. Karasik.