The Drought Years: The Forgotten Economic Transformations in Gulf History

Abstract

This article discusses a transformative phase in the history of trade in the Gulf and the Indian Ocean, as a result of the expansion of World War II into the passages and ports of the Indian Ocean. The countries in the region suffered from British policies which introduced austerity measures to mitigate the widespread economic and social instability at that time. These British interventions challenged the economic system in the Gulf and the Arabian Peninsula, marking a turning point from pearl to oil-based economies. This transformative period spans approximately a decade, from the mid-1940s until the early 1950s.