To say that the Middle East is a volatile region is an understatement, and yet its centrality to global stability is still often forgotten. In fact, the region could be far more disruptive to the world were it not anchored at its core in the Arabian Peninsula by an influential state, Saudi Arabia, and its partners in the Gulf Cooperation Council (GCC)—status quo powers that have a vested interest in a well-functioning global economic and political order.
Strengthening this anchor with a...