Like its neighbors in the Gulf Cooperation Council (GCC), Abu Dhabi, the capital of the United Arab Emirates, has spent the past two years contending with low oil prices. To endure the oil slump, the emirate has taken a similar approach to that of other GCC countries, proposing a rash of reforms to restructure its energy and financial sectors and to attract foreign investment and development. Though Abu Dhabi's plan is rife with adjustments and policies that will draw expatriate talent, economically it is losing more and more ground to rival emirate Dubai. Moving forward, Abu Dhabi's political primacy will remain unmatched, buttressed by the far-reaching influence of the al-Nahyan royal family, which founded the United Arab Emirates and has ruled it for 300 years. But unless Abu Dhabi can achieve close to the same economic diversification that Dubai has, its power in the country may wane. Moreover, as Abu...
