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Oil costs rose drastically. Though Saudi Arabia was the uncontested largest producer of oil, its oil industry, located very close to the war face and sell overseas lines were affected by the persistence of the war2. In fact, the war overstated the oil production all over the Gulf area.
The "Tanker War" was expanded to the extent of involving the tankers that were used to transport oil to the Gulf since 1987. The Iranian came up with this idea to stop Gulf being held up to Iraq. In its place, it led to the first enormous American military operation in the region to guard Gulf tankers against Iranian attacks3. The two countries incurred foreign debts. They were unable to pay off them after the war ended due to loans from other countries. The war shifted the worlds concentration in the Middle East from the Arab-Israeli clash to the Gulf section. That Lead to decrease in relation of this country with foreign countries in fear of damages; hence, decrease economically. If the Iranians are capable of having some of the economic sanction lifted they would turn into a chief opponent for Iraqs oil led developmental
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The country represents an epitome of mature democracy. The United States is a federal constitutional republic in which the president is the head of government. This includes the congress as well as the judiciary. By default, the president is also the head of state.
The United States came to the rescue of Kuwait and, under the authorization of the United Nations, drove the Iraqis back to their domestic border. This Gulf War, as it is called, affected Kuwait’s previously thriving economy. It caused heavy damage to Kuwait’s oil industry, incurred several war debts and reconstruction costs, and caused the loss of essential foreign workers.
These countries still face the issues like falling per capita income, low GDP, high unemployment and poverty.
This paper illuminates the state of economic development in both the countries and presents a comparative analysis of the causes of economic backwardness.
Structurally Brazil is not positioned well for economic growth and according to the Heritage Foundation's Index of Economic Freedom, Brazil currently has a negative GDP and is ranked 81st among other countries with a score of 3.08. This score is at an all time low for the country which is positive but is not a model for the country and its economy or politics on a whole (Index, Brazil).
Once the center of heavy manufacturing and the economic hub of the nation, this area lost jobs and government support beginning in the 1940s. This shift has been explained by theorists as a result of international economic influences fueled by the government's lack of political will to prevent the eventual demise.
This essay mainly focuses on the characterization of the current level of political and economic integration among member countries of GCC. It also exposes major hindrances on the path of such integration, that become apparent in the countries of GCC. A belief that globalization creates world peace is supported by the countries of the union.
Violence against the immigrant community is growing day by day and which is not good for the image of America as a country which respects freedom, liberty and individuality. As an immigrant, I can definitely say that my parents enjoyed a much better
The present political conditions in Russia are critical to ensure successful running of businesses because of the tensions and attacks that happened on 29th of December 2013, where two suicide bombings occurred in
cing stability in the Mid East region, guaranteeing the security for Saudi Arabia and Israel who were important allies to the country, ensuring that Iraq could not achieve hegemony in the Middle East, and ensuring that oil supply was not challenged for developed nations in the
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