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Old 06-15-2017, 04:30 AM
 
Location: Beautiful Pennsylvania / Dull Germany
2,205 posts, read 3,343,408 times
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Originally Posted by euro123 View Post
Surprise, surprise only 25% of UAE's economy is due to oil. Saudis are trying to copycat Dubai's success and other gulf states too. Even without oil these countries are so hot they can exist solely on solar power, which is a growing market...it's like Allah had blessed them no matter what.
I do not really care about those countries but as far as I know, financial situation is getting worse. Yes, only around one third of the GDP comes from oil revenues - but the majority by investment (useless prestige and real estate projects and desperate attempts to diversify the economy) comes from the public sector and is paid from the oil profits. All three big airlines, Qatar, Emirates and Etihad are getting into finanical problems after a decade of billion dollar investments by the governments because finally they have to make money, not burn oil money. Plus, the growth comes from a lack of taxes, when the oil money is out they have to increase taxes which removes their only USP.

Saudia Arabia has a 90 billion dollar loss in the government budget already two consecutive years. They are desperately trying to increase the oil price, they have the lowest costs for producing oil per barrel but still are more depending on oil revenue than anyone else, as all the government spending including salaries is paid by oil revenues. As soon as the oil price reaches more than like $50-60 the US fracing industry will push fresh oil into the market to stabilize the prices on a low level. At the same time, the Saudis are spending billions and billions on useless wars.

Solar energy... well. I do not see solar energy to be transported to Europe or any other area where it is consumed.

Dubai is not a city, its a bunch of skyscrapers in the desert.
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Old 06-16-2017, 06:06 AM
 
Location: In the heights
37,309 posts, read 39,712,890 times
Reputation: 21381
Quote:
Originally Posted by euro123 View Post
Surprise, surprise only 25% of UAE's economy is due to oil. Saudis are trying to copycat Dubai's success and other gulf states too. Even without oil these countries are so hot they can exist solely on solar power, which is a growing market...it's like Allah had blessed them no matter what.
25% is still a lot for UAE and Saudi Arabia has not really made much headway in terms of transitioning.
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Old 07-22-2017, 11:49 PM
 
4,640 posts, read 13,952,237 times
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Exclusive avoidance of derogatory remarks sole exception, there is a fast growth rate only because there is usually such a low starting point from relative vantage points of decades ago. Some areas of Europe, and North America are strangely already well developed way before. That is precisely the critical evaluation degree to Japan(One of the only few early birds) completely stagnating compared to the recent competitors of South Korea, Japan, Taiwan, China/Hong Kong/Macau, Thailand, Vietnam, Malaysia, Singapore, Brunei, Indonesia. Now they are even more opulent than a vast majority of mainland Europe east of the divide.
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Old 07-23-2017, 03:22 PM
 
9,229 posts, read 9,791,799 times
Reputation: 3316
If you know how much time Asian children spend on studying, you won't be surprised. In China/Korea/Japan, teenagers often study 12 hours per day.

It's not so much about how much they learn, it is the habit of pushing themselves.
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