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Examining the negative effects on the economies of oil-exporting Arab countries as a result of the current imbalance in the international monetary system, this paper finds that the imbalance is mainly represented in the continuation of the dollar as the central reserve currency of the Gulf States. As long as this imbalance exists, it postulates, the surpluses achieved by these countries in their balance of foreign payments ends up as dollar-denominated reserves deposited in the US government treasury or as US bonds. In other words, as loans countries with financial surpluses Gulf States give to the richest economy in the world in return for meager interest rates instead of investing them in high-yielding productive projects that could increase demand in the global economy, drive up employment rates, and help protect against crises and instability. This study aims to start a debate about the need for the Gulf countries to take part in efforts to reform the international monetary system, and join developing nations that spend on infrastructure and sustainable development instead of on defense. This paper sees such a move as ensuring that the Gulf States would then participate in reforming global governance and the development of the international monetary system. Gulf countries should seriously consider joining the New Development Bank and the Asian Infrastructure Bank, as well as establish a trans-regional bank between Asian and Arab countries, as a more advanced step.

Where the Cold War crises took place in the context of a bilateral international system represented by the Western and Soviet entities, the recent Ukrainian crisis is played out on an international stage where the US remains the world’s unipolar power. This paper discusses the major differences between these contexts with the aim of better understanding the possible outcomes and ramifications of the crisis. Such an understanding seems vital, for if the Ukrainian crisis continues without reaching a political or diplomatic solution, the cost will be higher for Russia and EU countries than it will be for the United States. The paper shows how European countries will pay a higher price for the crisis, compared with others in the region with different foreign policy priorities due to the EU’s current political and economic interests that tie it to Russia.

US and European Union officials began discussions on the formation of the Trans-Atlantic Trade and Investment Partnership (TTIP) in July, 2013.

The notions of superpower and unipolarity are seriously questioned by heavy trends: non-fungibility and dissemination of power; complexity of transnational interactions and interdependencies. The article argues that because of these mutations, China's rise, achieving the rank of "emerging potential superpower", and the narrowing of the gape on global power resources, the United State, who still have unmatched capacity, will probably be the last superpower in a Cold war era sense. The article concludes that unipolarity is not challenged because the operating interstate dynamics, in which involved actors which are supposed to work for building a multipolar world, contribute in fact to reproducing unipolarity.

This is the second section of a study examining the application of good governance in Egypt and Tunisia. The first section, published in issue 42 of the Siyasat Arabiya journal, provided an in-depth theoretical framework for assessing the dynamics of administering governmental affairs, establishing the prerequisites of effective governance, and combatting corruption. This second section argues that administrative corruption is an important obstacle to the quality of public services provided by central government in Egypt and Tunisia, despite various laws and codes calling for tackling corruption and corrupt individuals. This study recommends governmental decentralization; gradually permitting legislative bodies to review the work mechanisms of public administration; adopting organizational philosophies that can serve to improve the process of providing public services; and finally, activating e-government and information and communications technology to achieve more effective public administration operations and services provision and thereby contribute to expanding economic growth.

For months, the transitional phase in Tunisia underwent a critical historical period that almost foiled efforts to establish a newly-born democratic state and undermined the foundational work of the post-revolution state. In fact, the increasing violence, the high living cost, the raging conflict over power, the intermittent rise of partisan, ideological and religious tensions, the return of the old regime media, the emergence of the harbingers of a counter-revolution and the decrease in Tunisia’s sovereign ranking showed followers of the situation that the Arab Spring in its first cradle was at risk. Citizens felt afraid, and they longed for stability and reassurance. The deteriorating political situation based on polarization and dispute between the ruling troika and the opposition added insult to injury. The paper sheds light on the situation of the prominent influential political parties in Tunisia and on the complexities of the political crisis. It also explores the prospects of the upcoming phase.

The purpose of this paper is to study the Algerian experience with the Arab spring by identifying the nature of the protests movements in Algeria, to search the adaptation mechanisms of the Algerian political regime with the protest act and to answer the question: why the change in Algeria is so hard to happen? Next, this paper will expose a range of the most important political bets to understand better the Algerian exception by searching the roots of the crisis which has been overcomed in searching a radical and real reform. Finally, this paper will be concluded by addressing the prospects of political, institutional and economical changes and by exposing a future scenarios of the hard transition in light of internal and external challenges.

Book Title: The Yemeni Revolution: Background and Prospects [Arabic]

The current political scene has warned that Yemen could face huge threats in the coming years. The worst of these is the collapse of the country itself, in facing a comprehensive civil war. However, there is optimism that the outcomes of the national dialogue conference—which gained acceptance from core parties—will be entirely implementable. With optimism that the political scene is on a stable track, the economic situation is the next concern, with a distinct possibility that the country’s economic situation will get worse, with a spillover effect on the political situation. This paper presents Yemeni political history and describes the nation’s acting forces. The study shows the challenges of development that Yemen faces and the impacts of the 2011 uprising on this development, as well as the factors that led to the uprising. It then outlines the challenges to be faced by Yemen in the coming stages, and gives suggestions that might help in overcoming the difficulties facing stability and chances of comprehensive development.

An academic workshop to be hosted by the Arab Center for Research and Policy Studies will examine the regional implications of a long-term drop in oil prices on oil producing states in the Arab region. Made urgent by a sharp decrease in the global benchmark oil price, from US$110 per barrel to $40 per barrel in the 12 months leading up to September, “A Drop in World Oil Prices: Implications for Oil-Exporting Countries” will be held at the Al Mukhtasar Hall in Doha’s Ritz-Carlton Hotel on Saturday, November 7, 2015. While participation in the event will be limited to selected experts, attendance will be open to the media and the general public.