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$3 trillion trade surplus for GCC states
- Bahrain: Thursday, March 27 - 2008 at 11:42
Gulf states are predicted to have a trade surplus of $3 trillion by 2020. Delegates at an investment conference in Bahrain were told that central banks and sovereign wealth funds (SWF) today account for 8% of global investments. By 2017 SWFs will be worth $18 trillion - 9% of the world’s financial wealth. Douglas Hansen-Luke, chief executive for the Middle East at global asset manager Robeco, said the worry for western governments is not that SWFs will keep buying their prized assets, but that they will invest less in their markets than they do today.
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StaffThursday, March 27 - 2008 at 11:42 UAE local time (GMT+4)
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