loading assets

May 7, 2016

Saudi Arabia weans economy off oil … Unrealistic new policy is a “huge tourist country.” – The country of extreme male chauvinism has no chance of survival on future earth –

image: 1
Saudi Arabia weans economy off oil … Unrealistic new policy is a “huge tourist country.” – The country of extreme male chauvinism has no chance of survival on future earth –
It seems that Saudi Arabia has unveiled a plan to wean economy off oil. Surprisingly, the kingdom aims to be a huge tourist country, which is extremely unrealistic. Mr. Jim Rogers, a worldwide investor, points out: “It is not very realistic.” It is absolutely true that nobody wants to go sightseeing in Saudi Arabia, where women should be dressed entirely in black, women cannot sit in a restaurant with men, and women are not allowed to drive a car.
They have made such an unrealistic plan. It shows how dumb Saudi Arabia’s royal family is. In other words, it means that they have to get back for their having thought of nothing but wars and looting.
Actually, the biggest reason that they cannot probably get over a crisis is their mental structure. Their antiquated mindset dates back to beyond the Middle Ages and their male chauvinism seems to be built on strong bedrock. This thought presumably originates from Koran. They think that women have no souls and women cannot enter the kingdom of heaven after death.
Recently, Saudi Arabian scholars have made a great historic discovery. It is a discovery that “women are actually mammal,” which is an astounding, anthropological discovery to them. In the past Saudi women were treated as “daily necessities.” However, the discovery by scholars has finally created the recognition that women are the existence equal to camels. This is truly a great discovery because women who were considered to be things called commodities even without souls have suddenly achieved a promotion from domesticated animal to slavers.
Such being the case, it is apparent that Saudi Arabia has no chance of survival on future earth.


May 1, 2016
Masatoshi Takeshita

(Note) Shanti-phula has indicated some parts of the following text in boldface type or in red letters.

Excerpt from a Japanese article: Overseas Articles Never Reported by Mass Media – May 1, 2016 –

Saudi Arabia is a huge tourist country? Who will ever go sightseeing in a country where women cannot wear skirts or go to the beach?

*snip*


RT: Do you think it’s a sensible plan or not? Is it realistic?

Jim Rogers: It is not very realistic at all. They tried this back in the 1970’s: they started raising wheat, they started raising agricultural products. The cost of raising products was more than they could buy them in the market, so they stopped, they gave it up.

RT: Isn’t it sensible none the less to look ahead and try to bring the plan to life?

JR: Certainly they need to do something. Unfortunately, I don’t think that most of the things they talk about doing – becoming a huge tourist county - but who is going to go there if they are not allowed to go to Mecca and Medina; they cannot go to the beach; women cannot sit in a restaurant with men. The restrictions are absurd. Now, if they break down those restrictions, there would be a gigantic tourist boom in Saudi Arabia, at least for a few years, because everybody would like to see it.

*snip*

Felix Moreno, portfolio manager at Rockflower Trading said the first step of the process of becoming more diversified is to be able to not spend more than you bring in.

RT: Is it even possible for Saudi Arabia to have an economy that doesn't depend on oil? Can the recently unveiled plan be achieved?

Felix Moreno: Not without a lot of difficulty. I’ve struggled a lot to find an example in the history of a country that was so reliant on one commodity and was able to do a turnaround without a lot of upheaval. In fact, it’s called the Dutch disease, when a country becomes very reliant on one major export. If that export stops being a source of cash as oil currently is for Saudi Arabia, they normally have to go through a very, very painful industrial and technological reconversion and it takes a lot of time and it takes many, many companies failing before the new economy starts to kick in.  

RT: Haven't they got bigger problems to sort out, like tackling that record billion deficit?

FM: That is right. They might manage to offset that somewhat by the sale if they have an IPO of Aramco. But in any case, we’re talking about something that they need to start now. Obviously the first step to do that is to learn to live within their means. If they are spending more money than they’re bringing in now when they’re still receiving huge sums of money from oil exports, what are they going to do when those exports no longer bring them so much money? So the first step of that process of becoming more diversified is to be able to not spend more than you bring in right now.
The statements, views and opinions expressed in this column are solely those of the author


No comments:

Post a Comment