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Asdasdas Essay

1619 words - 6 pages

Consequently, the government has taken seriously the idea of diversifying the nation’s economy so it can be less susceptible to shocks in the oil market. In 2007, the manufacturing jobs outside of the oil sector only contributed to 10% of the GDP and only 6% of employment (Statistics & Information). However, the government has begun allocating its oil revenues to transform the nation into a modern industrial power while at the same time maintaining the Islamic values in place. The economy has progressed well in the past few years, however mainly still do to the rising prices in oil, but the agricultural and industrial sectors now have a larger stake in the economy. The nation has had many development plans throughout its history, the first two concentrating on infrastructure, the third concentrating on education and social services, the fourth concentrating on private enterprise, the fifth on consolidation of the nation’s defense, the sixth concentrating on lowering the cost of public services, and the latest plan was concentrated on economic diversification (WARC).
On a different note, Saudi Arabia’s economy and political climate are not the only interesting aspects of the nation; the foreign policy is along intriguing. Saudi Arabia is a member of the GCC, but its influence spans a lot further than that it also has a big part in the world stage because of its influence on the energy sector and the Organization of the Petroleum Exporting Countries (OPEC). The OPEC is an oil cartel who controls the policies of oil-producing nations and its goal is to secure a constant income to its members and supply to its customers. The OPEC is intergovernmental, originated in 1960, and now consists of over 10 nations. It was originally created when multinational companies controlled the international oil market, and they did not take each nations rights into their policies. The OPEC is not Saudi Arabia’s only form of foreign interactions, the nation is also non-aligned so its objectives are to maintain its position, defend Islamic interests, and cooperation with other nations in similar situations. Saudi Arabia is one of the founding members of the United Nations having signed its charter in 1945, while also being a participant in the IMF and World Bank (WARC). In the Arab world, Saudi Arabia is at odds with mainly Iraq, Iran, and Yemen, even though Yemen and Saudi relations have improved recently. Iran and Saudi Arabia is definitely the most heated rivalry, with many issues between them with nuclear weapons being the most intense. Even though Saudi Arabia will to build its own nuclear program if Iran does as well, however if Saudi Arabia indeed did go towards such measures their economy would take a hit and their neutral attitude and worldy perception would fade. Other Arab world relations for Saudi Arabia include the Arab-Isreali conflict, which is always at the cusp of a bigger issue then it already is and in regards to its neighbors, Saudi Arabia is a...

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