Economist Podcasts End-Gulfed: Preparing for a post-oil future
Feb 14, 2023
Greg Karlstrom, The Economist's Middle East correspondent, shares insights on how Gulf states are modernizing and liberalizing in anticipation of a post-oil world. He discusses cultural shifts, economic diversification, and the rising living costs that threaten political stability. Meanwhile, Henry Tricks analyzes BYD's meteoric rise as a contender in the electric vehicle market, challenging Tesla with innovative strategies. They also humorously highlight the environmental dilemma of wet wipes creating islands along the Thames, sparking a conversation about pollution and regulations.
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Gulf States' Transformation
- Gulf states are modernizing economies and liberalizing societies, preparing for a post-oil future.
- This shift involves attracting global talent and diversifying beyond hydrocarbon revenue.
Changes in Saudi Arabia and UAE
- Saudi Arabia and the UAE are leading these changes, including social reforms and economic adjustments.
- These changes redefine citizen-state relationships and introduce new taxes and reduced subsidies.
Youth Unemployment Concerns
- The expectation of cushy public sector jobs is fading, leading to youth unemployment.
- Governments are encouraging private sector employment, but challenges remain in education and discrimination.