The Fallout from Saudi Arabia’s Economic Downslide
Dec. 1, 2016 The kingdom could face challenges due to economic strains and plunging oil prices.
Saudi Arabia, a deeply conservative Muslim country that has been dependent on oil exports for the bulk of its existence, is changing the nature of its polity because of economic woes due to falling oil prices. Changing the way in which it has managed the political economy is always a massive undertaking, but the country’s inability to balance its books makes it significantly more difficult. Compared to overhauling the regime, addressing the nation’s economic woes is a more modest and immediate aim. However, an inability to addres...
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