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Saudi Arabian Polical Economy - Essay Example

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Name: Task: Instructor: Date: Saudi Arabian Political Economy There are several reasons why dynastic oil monarchies survive due to economic factors in Saudi Arabia. For example, the Saudi Arabia has strong friends in the Western countries especially the US that protects its interests through the provision of funds and military protection…
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Saudi Arabian Polical Economy
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Additionally, the positions of the prime minster, foreign affairs, defense and interior ministry still belong to the royal members. This goes to accumulation of vast wealth, both commercial and business ventures by the princess’ and prince’. Therefore, the Saudi royal family exploits this advantage to establish links with other neighboring monarch with such tendencies. This involves strong relationships with wealthy oil merchants, who receive additional funding from the Saudi Arabian government (Selvik and Stenslie 176). Furthermore, the prominent businesspersons with powerful influence on the economy receive finances from the government. This enables the various dynastic monarchs around Saudi Arabia such as Kuwait, UAE and Qatar to continue their political survival despite discontent from the masses. Furthermore, the Saudi royal family has a way of corrupting real estate markets for the gain of wealthy oil merchants and powerful persons in the economy (Selvik and Stenslie 171). This leads it to controlling large finances in terms of cost returns that enable it to grip power hard. There is also the total control by the royal family over most state institutions that control the country. This becomes possible to continue controlling the path of the country’s economy thus strengthening the regimes of the oil monarchies. It significant to add that because of the financial strength of the royal family, they cling to power despite all pressures. This is through the utilization of the resources in fighting the opposition. Therefore, any attempts of a revolution the Tunisian or Egypt style that occurred recently cannot occur in Saudi Arabia. Alternatively, complications occur due to the continued support of the country by powerful nations such as the US and some European nations (Selvik and Stenslie 177). These nations are ready to support dynastic oil monarchies especially Saudi Arabia due to their long term strategic interests of oil. Different economic factors do not have the same effect on regime survival. For example, when the economy declines in terms of reduced oil prices, funding of essential projects becomes a challenge. These include infrastructure, provision of food, establishing of significant institutions that are of benefit to the citizens such as schools and hospitals. There is also the issue of foreign funding from other countries that may boost the economic potential of ensuring the survival of a regime. This is through provisions of grants, donor aids and other related funds that aim at supporting the projects of that country. In other instances, when the economic potential of country depreciates, opposition becomes hard to tame due to limited resources. This also applies to people revolution, which rises against, their governments (Selvik and Stenslie 176). This was witnessed in the uprisings of Tunisia, Egypt and now Libya. Other areas still under siege by people power include Yemen and Syria. This is due to changes in both political and economic structures of addressing critical issues affecting the masses such proper governance, poverty and unemployment problems. Among the dynastic oil monarchies, there is the habit of financial dominance of the economy and distribution of welfare resources to the masses. These monarchs also participate in the development of the state apparatus at the masses expense to both withhold power and destabilize political enemies. However, in case of a change in the Read More
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