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Formula 1: Will Bahrain GP Be Cancelled? Ecclestone, Globalization and Politics
Published: February 20, 2011
This was the case with Hosni Mubarak in Egypt.
In the case of Bahrain, the United States government supports the king mainly because of Bahrain's oil reserves, the fact that NAVCENT (US 5th Fleet) headquarters are in Bahrain and because the king and the elite are a Sunni in a Shi'a majority country, which is a key to stemming Iranian influence in the Persian Gulf region.
But now the country's Shi'a majority are revolting against the Sunni government and royal family. These protests have been met with great force by Bahrain's police and army, who have openly shot at protesters—a scene entirely different from Tahrir Square, where the army and the protesters stood together.
But the violence has ended according to the latest news reports, with the king and the crown prince calling for talks between all sides.
What caused this sudden change in the government? Why are they so open to talks now when for the past week they had no problem shooting at protesters?
The answers are Formula 1 and Bernie Ecclestone, and the money Formula 1 brings to the country.
We're living in a globalized world, and Bernie Ecclestone has realized this better than anybody seizing the opportunity to hold Grand Prix from Istanbul to South Korea and from Malaysia to Bahrain.
Formula 1 is capitalizing on the economic power of emerging markets and oil-rich states.
But a Grand Prix's host country also benefits, by bringing primarily tourism and other moneys to their local economies.
In 2008 alone it was reported that the Bahrain Grand Prix brought over $540 million into the local ec...
Article Source: Bleacher Report - Formula 1
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