At the G20 summit in India, America, India, Saudi Arabia, the United Arab Emirates, France, Germany, Italy, and the European Union (EU) announced a large economic network along the Middle East Corridor. This corridor is considered a significant answer to China and is described as the dream of Saudi Arabia’s Crown Prince Mohammed bin Salman (MBS), who aimed to make the Middle East into Europe.
A video of MBS discussing this dream was released in 2018. MBS stated that the Middle East could be the “new Europe” and vowed to see the region develop economically. He is waging a “war” to return the Middle East to its former glory.
In the next five years, Saudi Arabia’s economy will be completely different, with strong growth predicted. He also mentioned Saudi Arabia’s Vision 2030 plan for economic and social reforms and predicted that the UAE, Oman, Lebanon, Jordan, Iraq, and Egypt have plenty of opportunities. The Saudi Prince said that in five years, Saudi Arabia will be a completely different country.
The Middle East Corridor has been praised by Israeli Prime Minister Benjamin Netanyahu, who termed the opening of the Economic Corridor (IMEC) as “big news” for Israel. The new economic corridor is considered a major answer to China’s controversial Belt and Road Initiative (BRI), which has destabilized many small countries due to debt. The project is believed to replace BRI and impact the Middle East, Israel, and the entire world.