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Economic Structure and Trade between Middle East and East Asia

The economic structure and trade relationship between the Middle East and East Asia are complex and multifaceted. This is due to various factors effecting the flow of goods, services, and capital between the two regions (Wu et al, 2020).

The ancient Silk Road served as a significant trade route between the Middle East and East Asia for thousands of years, during which time there has been trade between the two regions. Today, the oil and gas sector dominate commerce between the Middle East and East Asia because the former is a major producer and exporter of these resources while the latter is a major consumer and importer.

Recently, trade between the two regions has diversified immensely. This is with increasing trade in manufactured goods, agriculture, and services. China has also emerged as a major player in trade with the Middle East, with its Belt and Road Initiative (BRI) (Anwar et al, 2020) This initiative aims to improve connectivity and infrastructure between China and the Middle East through construction of railways, ports, and highways.

In addition to trade, the Middle East and East Asia have significant investment ties. The Middle Eastern countries invests in East Asian Markets and vice versa. This investment relationship is driven by a combination of factors such as natural resources, market opportunities, and strategic interests (Hartmann et al, 2020).

In conclusion, the economic structure and trade relationship between Middle East and East Asia are shaped by factors. These factors include economic policies, geopolitical considerations, and technological developments. Despite the challenges and uncertainties that may affect their relationship, there are also opportunities for great cooperation and growth.

References

Anwar, A., Younis, M., & Ullah, I. (2020). Impact of urbanization and economic growth on CO2 emission: a case of far east Asian countries. International Journal of Environmental Research and Public Health17(7), 2531.

Hartmann, D., Bezerra, M., Lodolo, B., & Pinheiro, F. L. (2020). International trade, development traps, and the core-periphery structure of income inequality. EconomiA21(2), 255-278.

Wu, F. (2020). Stock market integration in East and Southeast Asia: The role of global factors. International Review of Financial Analysis67, 101416.

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