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When your economy is based on a single commodity diversification is really difficult. There is one place in your economy where the money is, and the power follows the money. Anything else is going to be a money sink for the foreseeable future, which in turn means it is going to have zero political power: any job in a money sink will exist only at the whim of ...


9

They Do. Saudi Vision 2030 is a strategic framework to reduce Saudi Arabia's dependence on oil, diversify its economy, and develop public service sectors such as health, education, infrastructure, recreation, and tourism. UAE Economic Diversification Efforts Continue to Thrive. In 2015, 70 percent of the UAE’s GDP came from non-oil sectors, including media, ...


4

+1 to Paul Johnson's warnings about the challenges of diversification (how many times did Microsoft tank their earnings with failed attempts, until Azure brought success at last?) and the real inherent challenges from the Gulf's environment. Another factor is that many of the Gulf oil states do not have free political systems, but are rather ruled by ...


3

Three answers have already been posted but I will post yet another because this will be the first one that advocates specialization. In 1808 Robert Torrens wrote... I wish to know the extent of the advantage, which arises to England, from her giving France a hundred pounds of broadcloth, in exchange for a hundred pounds of lace, I take the quantity of lace ...


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