(Forbes) Ilan Berman - Saudi Arabia is living on borrowed time. Since the oil boom of the 1970s, per capita income in Saudi Arabia has constricted precipitously, falling from $28,000 in the early 1980s to below $7,000 in 2001. In other words, average Saudis have experienced a devastating reversal of economic fortune, even as the royal cohort that rules over them has become more numerous, indulgent and bloated. Glaring disparities continue to persist, perpetuating a seething, impoverished underclass.
2010-07-14 09:21:28Full ArticleBACK Visit the Daily Alert Archive