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Their economy is basically broken, as is common for a rentier economy. I think the most alarming stat is that for the most part, the Saudi economy doesn’t actua
by ashtonkem 6y ago
Their economy is basically broken, as is common for a rentier economy. I think the most alarming stat is that for the most part, the Saudi economy doesn’t actually involve Saudis; 90% of non-oil jobs in Saudi Arabia are held by non-Saudis, and only 30-40% of Saudis have or want a job. To a massive degree the Saudi economy is run by expats and migrant labor, and the important question is this: “Does Saudi have the ability to retain this labor once the oil money is gone?”