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Sovereign Wealth Funds and their Implications
This chapter examines the management of oil revenues through sovereign wealth funds, contrasting Norway's conservative approach with Saudi Arabia's aggressive investment strategy. It critiques the concept of a U.S. sovereign wealth fund proposed by Donald Trump, highlighting concerns over executive overreach and potential mismanagement. Additionally, it explores the complexities and misunderstandings related to these funds, including their effect on deficit reduction and the risks of financing through debt, illustrated by the Malaysian 1MDB case.
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