What to say. But it seems like Saudi Arabs are going to be next Venezuela. Because they are also facing same economical issues from previous few days. Saudi and Venezuela are the part of OPEC. They both have economic dependency on oil.
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What happened to Venezuela
It is a very big topic to discuss. As I try to write short stories on different topics. So I will try to explain in few words. Venezuela was a very rich country because of oil. When the prices of oil was near to 112$ per barrel, it was a very stable condition of their economy. But when prices went low approximately 45$ per barrel, it became a reason of big economical crises for them. As Venezuela is the member of OPEC. He demanded for reducing the supply of oil, but they refused it.
Now due to fiat currencies and it's unlimited supply, there is a huge inflation in Venezuela. Now a days I have heared that Venezuela is going for cryptocurreny. They have started working on it. I will write about it in my next blogs. Second thing which I want to discuss is political environment of Venezuela. Due to democracy and politics Venezuela's peoples have made few mistakes. They came to road for a strike against their president which was a reason of their economic crise.
What's about Saudi Arabia
Saudi Arabia is facing same economical problems. As the Arabs are 85% depended on oil. They are also facing deficits due to OIL prices. Situation is same as like Venezuela has faced.
But at next point, there is a little bit different between Saudi and Venezuela. Venezuela is a democratic country but Arabs are kings. If peoples will come on road what will happen to them? As we know crown prince has arrested 11 princes under the corruption. It shows a power centralization to crown Prince. Which can be a reason of civil war in Saudi Arabia.
Third point is Arabs have launched their economic transformation project named vision 2030. Which is a good sign of second chance. As a Muslim country and total Islamic state. It is very difficult to do that which they have planned. In Islam it is totally disallowed to do which they have planned. Islamic clercks will not be agree with them in this. Arabs follow Wahabism. Which do not allow them to engage their womens in work places. As we know crown prince has allowed women to drive in Saudi Arabia. Islamic clercks are already angry with them on this decision.
According to my perception maybe if they will be successful in their thoughts, other Muslim brotherhood will fight against Arabs because we all have a religious connection with Arab land. We Muslims visit mecca and medinah for boosting our Faith and understanding more about Allah. And Muslim brotherhood tension is very clear in Syria war. Sunnia and shia problems. So let's pary for peace.
All above sings and points are indicating that now Arabs are going to face a big economical crises. Maybe as similar like Venezuela. What's your opinion about Arabs future? Your comments will be appreciated.