ORTA DOĞU SORUNSALINDA EKONOMİK KALKINMA

ECONOMIC DEVELOPMENT IN THE MIDDLE EAST PROBLEMATIC

Abstract

The Middle East, a fascinating land full of historical tapestries woven by ancient civilisations, emerges as a global magnet that fascinates those seeking different cultures. While the seeds of world-changing events lie in these lands, the foundation of the beliefs of a significant part of humanity was formed in the Middle East region. The discovery of oil and natural gas, similar to the shining treasures unearthed amidst the fervour of the Industrial Revolution, has made the Middle East an important economic actor. In the midst of the ebb and flow of time, imperialist powers, particularly Britain and France, coveted the region and exploited its unlimited potential before and after World War I. As time passed, the dominance in this region passed from the once mighty empires to two giant countries, the United States of America and the Soviet Union, which rose to manage the complex power dance of the Middle East. Encouraged by strategic calculations, the United States, skilfully using Israel as a stronghold, has pursued various policies to become the dominant power in the region by forging alliances that navigate the labyrinthine intricacies of its interests.

The importance of the sea routes, the cradle and crossroads of trade, where two straits and a canal meet, has increased over time. Here lies a magnet that attracts attention, a siren call that summons merchants and traders, for the Middle East is a vital gateway to the world's bounty. With 47.6 per cent of the world's proven oil reserves and 40.9 per cent of its natural gas reserves, the Middle East's riches flow through these trade arteries. The Middle East thus takes centre stage as a fulcrum of economic importance whose echoes reverberate throughout the world. However, among the shifting sands of this enigmatic land, movements of change have begun with the Arab Spring. This grassroots movement sprouted from the aspirations of a people, a chorus of voices crying out for democratic rights, a battle cry against the specter of unemployment, corruption, inequality and injustice, and the longing for a fair trial, but its foundation lies in the political movements of the wars to seize the riches in the Middle East. Although the road to a fully realised democratic culture remains difficult, the Arab Spring represents a fervent expectation, a catalyst to ignite the flames of progress, and has begun a difficult journey towards its ultimate fruition. The infrastructure of the protests, which are portrayed as the efforts of the people of the region to obtain democratic rights, has been organised by political countries, which, as seen in the case of Iraq, are based on economic power balances.

The main purpose of this study is to theoretically investigate the factors underlying the unrealised policies in terms of economic development in the Middle East region, which is rich in underground natural resources.