The internationalisation of Gulf capital and Palestinian class formation

Abstract

The internationalisation of Gulf capital throughout the economies of the Middle East has been a striking feature of regional capitalist development over the last two decades. This article traces the nature of Palestinian class formation in light of this trend (drawing empirically on 2006-2007 data), arguing that a full understanding of capitalism in the West Bank and Gaza Strip needs to integrate the internationalisation of Gulf capital with the exigencies of Israel’s occupation. The theoretical and political implications of this are discussed in light of the projection of both US and Israeli power in the Middle East.