The US-Israeli war against Iran has shattered the Gulf's old security order. As governments search for alternatives, debate has focused largely on military strategy, diplomatic realignments and the role of outside powers. Missing are the economic foundations of a lasting peace.
Recent moves to expand Omani-Iranian trade and revive the Hejaz Railway linking Turkey to Saudi Arabia suggest that economic integration, once dismissed as politically impossible, is becoming conceivable. Whatever order emerges from the current crisis, its durability will depend not only on deterrence but also on economic incentives that make conflict costly.
