Economy

The Calm Before the Coming Global Storm

By Pepe Escobar

Major turbulence seems to be the name of the game in 2016. Yet the current turbulence may be interpreted as the calm before the next, devastating geopolitical/financial storm. Let’s review the current state of play via the dilemmas afflicting the House of Saud, the EU and BRICS members Russia, Brazil and China.

Saudi Arabia's Empty Threat to Wreck the U.S. Economy

Bond dumping isn't the real danger.
William T. Wilson

In recent years there has been much speculation over what would happen to U.S. financial markets and the economy if Chinese authorities suddenly decided to sell the approximately $1.3 trillion in U.S. Treasuries or government bonds they are estimated to own. In recent weeks, rumors have circulated that the Saudis were considering selling theirs—up to $750 billion of American dollar-denominated assets held by the kingdom.

Fine, then … India, Japan and Israel in the UNSC?

BURAK BEKDİL, hurriyetdailynews
Tragically, and in his own words, Turkish President Recep Tayyip Erdoğan thinks (or pretends to think) that “the primary reason behind terror in Turkey is to prevent Turkey from getting into the world’s top 10 economies.”

Saudi Arabia Comes to the Rescue of the Egyptian Economy

MaSu, cc Flickr  Maersk Line, modified, https://creativecommons.org/licenses/by-sa/2.0/

Omar Mawji

The Arab Spring uprising left Egypt with an assortment of leaders and an uncertain future. After the ousting of President Hosni Mubarak in February 2011, the Egyptian economy fell into a sustained decline. Soon after the Mubarak era ended, Mohamed Morsi began a short-lived reign that ended with his ousting in July 2013.

Saudi Arabia approves ambitious plan to move economy beyond oil

Ian Black Middle East editor
Saudi Arabia has approved an ambitious strategy to restructure the kingdom’s oil-dependent economy, involving diversification, privatisation of massive state assets including the energy giant Aramco, tax increases and spending and subsidy cuts.

A Bright Future for Solar Power in the Middle East

Stratfor Analysis
Deserts are seemingly obvious places to locate solar technology. In fact, the swath of desert stretching from the Atlantic Ocean, across North Africa and the Arabian Peninsula, to the Persian Gulf has vast solar potential. But until recently it has not been economically feasible, or even necessary, to develop the renewable resource. In many areas, geographic constraints such as rough terrain have made solar projects impractical.

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