Authors: Hamdan Al-Fazari; Jimmy Teng
Addresses: Sohar University, P.O. Box 44, Al Jameah Street, Sohar 311, Sultanate of Oman ' Department of Economics and Finance, School of Business, American University of Ras Al Khaimah, Ras Al Khaimah, UAE
Abstract: This paper uses the experience of Kazakhstan, East Asian economies and Southeast Asian countries in economic development to provide suggestions for Oman on its participation in the One Belt One Road project by China. From the experience of Kazakhstan, the paper recommends that Oman actively draws in China's massive resources and knowhow to help Oman in economic development and diversification led growth. From the examples of South Korea, Taiwan, Hong Kong and Singapore, the paper suggests that Oman encourages economic exchanges with China and transfer of technology and knowhow and flows of foreign investments from China to upgrade the Omani economy. From the experience of Southeast Asia nations, the paper advises that Oman makes good use of its strategic location and membership in the Gulf Cooperation Council in its dealings and bargaining with China to get the best deals.
Keywords: OBOR; One Belt One Road; BRI; belt and road initiative; Silk Road; Middle East; infrastructure led growth; Afro-Eurasia landmass; hegemonic stability theory; China-Oman Duqm Industrial Park; Flying geese theory; China-Pakistan Economic Corridor.
Journal for Global Business Advancement, 2019 Vol.12 No.1, pp.145 - 166
Received: 05 Mar 2019
Accepted: 05 Mar 2019
Published online: 24 May 2019 *