As US works to rebuild confidence, domestic challenges remain priority

Timothy Geithner’s first visit to Saudi Arabia and the UAE since becoming US Treasury Secretary highlighted again the important role Gulf Co-operation Council governments play in the global economy, and the fact that the strategic alliances between the United States and GCC polities have been central to maintaining the regional status quo. Not only are all the GCC economies, except for Kuwait, pegged to the dollar, but they are also the largest foreign investors in US stocks.