December 13, 2015

THE TRADE DEAL JUST KEEPS PAYING DIVIDENDS:

Saudi Arabia: An oil powerhouse out of balance (Deutsche-Welle, 12/13/15)

Officially, unemployment in the kingdom is about six percent, but for those under 26, the situation is significantly worse. At the end of 2014; that is, under much better circumstances, some 30 percent of those under 26 years of age had no job. Frustration is high, says Middle East expert Sons: "Every year some 100,000 young people graduate from university. But they cannot find jobs because they all want to work in the public sector."

Saudi Arabia is known as a regional power. Beyond its southern border, the Saudis are fighting Houthi rebels in Yemen. Beyond its northern border it is trying to stave off Iran's influence in the region. Its most important proxy war is taking place in Syria. Yemen is not only a military disaster, it's a financial disaster as well. So far it is estimated that costs have been in the neighborhood of 50 billion dollars in Yemen, and 20 billion dollars in Syria. 

Syria expert and journalist Daniel Gerlach told the German public radio station Deutschlandfunk that Saudi Arabia had already invested 100 billion dollars in the Syrian conflict.

Posted by at December 13, 2015 4:05 PM

  

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