At its core, the dynamic behind the rift with Qatar is that while the small Gulf nation has the finances to engage in regional political escapades, it is geographically and demographically insulated from any domestic unrest or blowback. Qatar’s diplomatic forays, therefore, are potentially high impact but extremely low risk—at least, until last week. Qatar has the highest GDP per capita in the world, a population of 2.5 million—less than twelve per cent of which are Qatari citizens—and enormous financial capabilities. It has used its finances to acquire a mammoth portfolio of trophy real-estate assets across Europe, and in the UK alone has pumped more than $38 billion into the real-estate market. It imports almost everything. Foreign labor comes primarily from India, Pakistan, Bangladesh, Nepal, Indonesia and the Philippines. Qatar’s top universities are franchises of leading American universities, such as Georgetown and Carnegie Mellon. It even imports its sports teams and Olympians, with skilled athletes given Qatari citizenship on the spot to improve the country’s prospects in prestigious competitions. World-famous luxury department store, Harrods, 17 percent of Volkswagen shares and London’s gleaming Shard, Europe’s tallest building, sit on Qatar’s trophy shelf. For a country with only 313,000 citizens, Qatar has… Read full this story
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