Middle East Countries in the Global Economy: Current Development Trends and Security Issues

Abstract

The subject of the study is the economic development and security space of the Middle East. The aim of the article is to identify the peculiarities of the development of the Middle East in the global economy and to identify conflict issues that destabilize the region and deepen instability. Methodology (method). To achieve the goal and solve the outlined tasks in the research process used general and special methods: historical-logical, analysis and synthesis, generalization and quantitative comparison, visual (tabular and graphical) (to visualize the results of the study). Results. The importance of development and stability of the Middle East region for the global economy is substantiated. The structural structure of the Middle East region is determined and the historical preconditions of its formation are detailed. The tendencies to geopolitical transformation of the region are confirmed. The main challenges for development and stability in the Middle East have been identified, including local conflicts, the growth of terrorist acts, and ethnic problems. Emphasis is placed on the Kurdish issue, which periodically becomes acute and unresolved. Local conflicts that destabilize the region, as almost all countries have sufficient resources to confront, are analyzed. It is confirmed that the countries of the region are increasing their military potential to ensure their interests. The countries of the Middle East are identified by the level of human development. It is confirmed that the conflict areas of the region are negative for human development in the countries, and the progress made is slowing down. It is established that the world economy also depends on changes in the economic and political situation in the region, due to trade wars between countries, the application of sanctions. As an example, the restrictions on US foreign trade policy against Iran and the practice of sanctions are considered. The growing role of the countries of the study region in the global economy, which is determined by the presence of deposits of natural resources, in particular, oil, has been confirmed. The regional distribution of world oil reserves and its production is analyzed. The impact of OPEC's daily oil production restrictions on the COVID-19 pandemic on the Gulf economy has been elucidated. Measures to be taken by Middle Eastern countries to support economic development and security policy in the region are proposed.