Is tiny Qatar taking over the world?
I came across this-so-called "article" from The Sun, a famous British tabloid. Of course nothing new, the same old two premise that everyone talks about, Qatar is tiny, Qatar is rich :)
Owned by the tiny Gulf state of Qatar, the Shard is the tip of cash-rich Qatar’s investment iceberg in Britain.
With an income which makes Bob Diamond seem like a Big Issue seller, Qatar had enough cash to buy 20 per cent of Barclays while adding other blue chips to their portfolio.
In London alone, the Muslim emirate has been buying up everything from Chelsea Barracks to the new Olympic Village.
Qatar failed in its bid to stage the Olympics but it will be home to the World Cup in 2022. Its own teams haven’t made a mark on the world of soccer but sponsorship of Barcelona has made Qatar a global footie brand.
With billions in revenue from natural gas, Qatar’s ruling al-Thani family could have been just rich Arabs on a buying and bling spree.
Of course, like other rich Arabs in London, the Qataris go in for plenty of the “off with the chador” and foot down on the pedal of the Lamborghini but the tiny emirate punches above its weight in world politics. Britain used to “protect” the Persian Gulf state. Now the Emir helps our economy out in return for backing his foreign policy.
Qatar is tiny, with barely 200,000 “citizens”, serviced by swarms of migrant workers but it is really a family business.
Any position of importance is held by a member of the ruling al-Thani clan.
From the start of the “Arab Spring”, they promoted democracy — admittedly abroad, but you have to start somewhere.
Last year their special forces blazed a trail for democracy in Libya and they are helping rebels in Syria.
But back home, the micro-state’s security services take a close interest in any sign of dissent. Six out of seven people are Third World migrant workers — many of them women — with no real rights.
Some are highly paid journalists at the Emir’s pet project, the Al Jazeera satellite television station, which broadcasts Qatar’s message around the world. With an average annual income of around one hundred thousand dollars a head, the native Qataris see little profit in promoting democracy at home which might put ideas in their servants’ heads.
Abroad, the regime has been promoting Islamic parties in the new Middle Eastern democracies. Their cash subsidises the new Islamic political parties which have won elections in Egypt and Tunisia.
Saudi Arabia and Iran are the local giants, each with a claim on Qatar’s territory.
Fortunately for Qatar, the Saudis and the Ayatollahs are bitter rivals who would never accept the other one gobbling up the tiny emirate. But if they ever clash, then Qatar could find itself a highly inflammable frontline statelet.
To make matters more uncertain, America is Qatar’s protector but it is also determined to stop Iran getting “the bomb”. If Washington bombs Tehran’s nuclear projects, Iran could lash out at Qatar. The nation’s lavish investments here are insurance against a rainy day in the Gulf.
The gas will one day run out but it could explode in the ruling family’s face if the region’s big boys get into a scrap.
http://www.thesun.co.uk/sol/homepage/features/4422382/Is-the-tiny-cash-r...
Sun's articles are always interesting however mostly as true as a comic !
on a serious note, it’s just a futile idea (probably author is over cautious & fearful of recent buying by Qatar & Abudhabi Investment authorities in UK).
Without a powerful military you can’t even imagine such things, to say this for a nation state which is militarily surviving on others’ (US) support, is nothing but a funny quote (someone from Uk told me SUN does such things).
In 19/20th century another tiny nation ruled the world but they had Mighty Military power (best of naval forces those days), additionally they did have cannier mind too
Valentino bought by Qatar for 740 million usd.
Yep, by GDP ranked number 52 on the list publsihed by the IMF, just behind Kazachstan and Romania
Personally I think this two way trade is a good thing. Nothing for most countries to be worried about. (Well except the dictatorship where Qatar is fostering democracy....)
mozaismyhero- They need to dig harder
Columbian drug mafia: 500 billion US$ per year!
GDP of UK. 2.26 Trillion Dollars
GDP of Qatar. 98.3 Billion Dollars
They need to find some more gas and oil if they really want to buy the whole country.
LincolnPirate- Relax. I asked because you just said it's the only correct statement, and I was wondering why you said so. That is that. Thanks though :)
QatariRevolutionist, I will not "elaborate" what the author wrote. And if you think it's not true what he said, it's your opinion.
LincolnPirate- Kindly elaborate, how is it so ?
Among all possibilities, the author should also have included the possibility of new alternative of energy source, cheap & replacing crude.
That will be a funny situation actually,
There is nothing wrong with diversifying economy and investments :)
Britexpat- I second that about the Sun.
Also yes we might have the money, and they needed the money to boost their economy.
Many might not agree with the country's overspending here in Qatar, but at least in Qatar no one is begging in the streets, or being kicked out of the house and now homeless.
Meh, Western media have nothing but complaining and whining :(
True.. I spruced up my place and offered it, but they weren't interested. :o(
They have also bought heavily into France including PSG..
not World, but yes, may take over England one day, the way Qatar is buying there.
thesun has always been crap!
I just read yesterday that they might be interested in fashion house VALENTINO! they got HARRODS already I guess they are expanding in varied investments from Football clubs, real estate to retail etc.
I'm surprised that a Sun journalist can actually pen such a long article :O)
Qatar does punch above its weight because it has the financial muscle and the "friends" to do so.
Yes, the gas will run out one day - but that's a long way off and no-one knows what tomorrow holds. So, let's just enjoy the moment.
"It is really a family business," is the only correct statement in this article.