Summary Essay Example | Topics and Well Written Essays - 1000 words - 16

Summary - Essay Example The ruling families realized that there should be policy change in economic programs to ensure that the countries developed long-term and sustainable economic plans. The international community was involved in promotion of economic status of the GCC states where they advised that a knowledge-based economic policy would be effective in steering the economies rather than relying on oil that was dwindling. Introduction of the knowledge-based economy would ensure expansion and investment in education to build wealth from the human labour and resources instead of relying on the natural resources. President Obama and Angela Merkel delivered speeches on the benefits of the knowledge-based economy over reliance on natural resources. Obama stated that the Islamic countries should begin to increase their investment in education since even the countries that had more natural resources like America had invested in other policies to steer their economies. Angela Merkel on the other hand emphasized on the importance of promoting freedom and innovation from the power of science and human intelligence. Innovation, technological development and invention were es sential for development challenges in 21st century. These speeches revealed the interest which the western countries had on the development of the GCC countries. The Arab countries have adopted the policy and culture of promoting the education in the region by increasing the number of institutions of higher learning at high rate. Since the end of World War II, the number of universities have increased from 10 to 140 in 2000 and later increased up to 260 in 2010. This reveals the interest of leaders to propel their countries in knowledge-based economies. Obama and Merkel stated that the countries in the region should pay tribute to the developments taking place in education especially the universities that have embraced the visions of the Gulf monarchies. Modernization of education