What Does the Future Hold for Saudi Arabia's Economy?

Ellen Wald discusses why economic diversification in Saudi Arabia tends to be top-down, and the impact of the government flooding the market with its own investment money.

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What Does the Future Hold for Saudi Arabia's Economy?

Ellen Wald

Nonresident Senior Fellow, Global Energy Center, Atlantic Council

Ellen argues this level of state control can limit the potential for new business start-ups, and that a lot of the recent big deals remain in industries such as petro-chemicals and mining.

With the current risk of oil prices rising, does this mean the US may ask Saudi Arabia to increase oil production? And if so, how would Saudi Arabia respond given its growing interests in its relationship with Russia?