Saudi prince in charge of their economy has stated that they will diversify away from dependence on oil as the mainstay of their livelihood. Saudi Aramco is to issue an IPO and the stock sales used to establish a fund supporting a move toward an industrial and manufacturing based economy.
Law-fare interrupting access to banking and other financial markets would place the kingdom into a greater bind. At present the countries monetary reserves are dwindling, the reserves providing three? years support, unless a war takes a further toll. The shoe’s on the other foot for a change.
>>Saudi Aramco is to issue an IPO and the stock sales used to establish a fund supporting a move toward an industrial and manufacturing based economy.
Since Saudis don’t actually do any work, this means that they will import slave labor, work them nearly to death, radicalize them, and send them off to blow up someone else.
And our globalist corporate leaders will cheer for having a new labor market opened for them.
Saudi may be fading from significance. Shale is a game changer all around the world. See my post 31,
http://www.freerepublic.com/focus/news/3421574/posts?page=31#31
Diversify into industrial and manufacturing? With what for labor? Slaves? Saudis don’t work.
Furthermore, without need for their oil we will no longer need to be the cop in the region.
I’m feeling a Megatrend at hand, what they call a Black Swan now.
First prerequisite for that is a population that has the intelligence and drive to compete in world markets. That's not going to happen any time soon with that society.
I saw the information today that so far the oil producing countries are not so far agreeing to limit production and raise the price of oil. Diversifying and putting a bunch of their own college graduates to doing useful work, rather than importing people from poor countries to be their servant class, should improve the character of the next Saudi generation.