OPINION OF ARTICLE " The Rise of The Gulf: Saudi Arabia as a Global Player " For: Dr. Nicholas M. Deptris Chauvin

MOHAMMED FATEH ALRAHMAN ALI RABBAD

01218148

Article About:  The Rise of The Gulf: Saudi Arabia as a Global Player

For: . Dr. Nicholas M. Deptris Chauvin

LINK: https://www.kas.de/c/document_library/get_file?uuid=95fde250-c6a5-3da6-f724-1bc080781bd2&groupId=252038
SUPERVISZED BY HJ.I.G. AJU NITYA DHARMANI SST,SE,MM
NAROTAMA UNIVERSITY , SURABAYA - INDONESIA

View article for. Dr. Nicholas M. Deptris Chauvin is an associate professor of public policy at the Dubai School of Government and an associate fellow at the Oxford Center for the Analysis of Resource-Rich Economies at the Department of Economics at Oxford University that showing up " The Rise of The Gulf: saudi aRabia as a Global Player " , Talked about the comparison with the past of the Middle East and the economic control that Egypt taking the lead by taking over tourism. A clear example of this was the failed attempt of the Egyptian diplomacy to participate in the G20 meeting of London in April 2009 where the policy responses to the global financial crisis were discussed. On the other hand, the Saudi economy’s strength and influence in the world marketplace have grown exponentially during the past few decades. Saudi Arabia as the 13th most economically-competitive country in the world. As a result, the non-oil activities have expanded faster than the energy sector and the region has become one of the global  economic  growth  poles  attracting  both  foreign workers  and  foreign  direct  investment  (FDI).

Highlighted the most important point of a country containing the second largest oil reserves in the world for the growth of the Saudi economy, which is diversifying the sources of national income, which made the Kingdom one of the largest sovereign powers in the region  , As a result, the GCC countries have become part of the international debate on global imbalances and financial stability. discussing as well some of the key pressing issues that may have an important effect on the Saudi policy agenda in the years to come. The subse-quent  section  reviews  the  participation  of  the  Kingdom of  Saudi  Arabia  in  international  organizations  and  its involvement in the Arab world. The paper concludes with an assessment of the effects of the recent market volatility episodes on the foreign policy agenda of the country and its participation in the G20 Summits as a major, stable, credible economic power in the international stage.

He also highlighted  the Economic Threats , such as the  invasion of Kuwait by Iraq cost the Saudi government $60 billon, depleting the  last  reserves  accumulated  during  the oil-boom  days.  This  greatly  constrained  the  ability  of  the ruling family to finance the three priority programs of the 1990s: the oil sector capacity expansion plan, the increase in defense and arms purchases, and the maintenance of public  investment  to  sustain  the  domestic  standard  of living. Rising unemployment and social discontent among the youth create the ideal conditions for Islamist challenges to the monarchy regime during this period. As a response to the crisis, Saudi Arabia embarked in the late 1990s on  ambitious  reform  campaign  to  remedy  its  long-term economic stagnation, pushing for further economic diver-sification and searching for innovative institutional devel-opment to reduce the presence of a “rentier state”.

He also described a very sensitive issue, the concessions made by the Kingdom of Saudi Arabia to improve its economy with the United States of America " The  decision  of  the  government  to adopt the external demands wholesale significantly  reduced  the  room  for inter-agency politics. a series of trade deals  with  the European union  and the united states,  and  further  regu-latory  changes  finally  permitted  the accession   of Saudi Arabia   to in November  2005. as  a  result, the  country  had  to  give  substantial concessions  such  as  allowing  60% foreign   ownership   in   banking   and insurance,  and  75%  foreign  owner-ship of distribution within three years "

Conclusion

Dr. Nicholasclarify and studied various aspects of the development of the Saudi economy by studying history and discussing its existence as a rich country in the Middle East and how it can improve its economy and transform its strong position in oil into an effective position in the World Trade Organization and present the most important factors that the Kingdom has undertaken to develop. In the rate of annual income of the state as well as its political and religious status, the development of education and health infrastructure to promote the economy, and ways to integrate with the global economy by changing internal policies that may adversely affect its goal, By shedding light on all these aspects made this article sucsess to illustrate the image of a country under global development and about to change the future map of the global economy.