The year 2011 witnessed unprecedented political change in the Middle East. Citizens took to the streets in mass protest against deepening poverty, high youth unemployment rates, corruption and longtime dictatorship. Tunisia, Egypt, Libya and Yemen underwent regime changes, while there is an ongoing full-fledged civil war in Syria.
It remains to be seen whether such political changes in the Middle East will bring about significant social and economic transformation. The Arab Spring seem to have shaken the deep-rooted patriarchal and Islamic authoritarianism that has long been rampant in the region. The civilians of the Middle East could too question the legitimacy of the State and demand political change. The governments in turn are actively addressing issues causing social discontent, raising wages, and increasing investments for social infrastructure in the areas of housing, road construction, education and health and medical care.
This book summarizes the changes in the Middle East since the Arab Spring from an economic cooperation point of view and draws implications for Korea. More specifically, we look at how Saudi Arabia, Egypt and Libya have fared since the Arab Spring and how their major economic partners, the US, China, Japan, and France have reacted to circumstantial change. We then examine the nature of economic cooperation between Korea and each of the three middle eastern country,
Four prominent political and economic features seen currently in the Middle East as of 2012 are identified: contention among preexisting and newly emerging political forces, increased public spending, strengthened protections for domestic labor force and firms, high unemployment and corruption, and rising regionalism. We suggest that the Korea focuses on strengthening non-governmental linkages, reevaluate and revise trade and investment agreements with middle eastern countries, and reinforce development cooperation.