Has China gained an edge on the US in the Gulf?
China has upped the ante, but the United States holds the winning hand; Oman weighs risks and benefits of Gulf bailout; will migrant workers return to GCC?
![654272854 <<enter caption here>> on March 17, 2017 in Beijing, China.](/sites/default/files/styles/article_hero_medium/public/almpics/2020/07/GettyImages-654272854.jpg/GettyImages-654272854.jpg?h=a5ae579a&itok=Y7CuRSL4)
This week brought more economic bad news for the Gulf Cooperation Council (GCC) countries.
The International Monetary Fund (IMF) revised downward its forecasts for economic contraction this year as a result of both COVID-19 and declining oil prices, as we report here.