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Saudi Arabia may seem to many of us to be a country with a golden future. A country with enormous reserves of wealth, collected from almost a century of trading in oil and holding a monopoly on the world’s hydrocarbon market. BUT… I would argue that the enormous economic power the Saudis built on the hydrocarbon market has doomed their country, as well as those of their neighbors in Qatar or the UAE. The holding of such a monopoly stagnated political development and therefore left these countries in a position of being ill-prepared for a world after oil. To showcase this, I will however take you to a different place first. The Congo
Why Nations Fail by Darren Acemoglu and James Robinson
A world History of Slavery by Milton Meltzer
Conquerors by Roger Crowly
Impromptu no. 4 in A flat major, D. 899
Preludes, Op. 28 – No. 15 ‘Raindrop’
Ballade no. 1 in G minor, Op. 23
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Pinned comment reserved for correcting potential mistakes, adressing critizisms, and other releated points:
1: "How is Iran not impacted by this" – Ironically the sanctions against Iran mean that iran will in the long term be in a better position than the Saudis, because Iran is forced through the sanctions to diversify its economy in advance.
10:25 the flag of Portugal changed to what it is today in 1911. Just a minor mistake however.
Well, in Saudi Arabia I don't see the same destructive nature as in the Congo Kingdom
So there is a high probability that they will go under, but not that they will tear themselves apart as much (but their neighbors will most likley take over that part)
Houthis launch their Iranian-made weapons towards civilian locations in Saudi Arabia for many years, disregarding Holy months or global pandemics!
The economic system for the Yemeni citizens is now hitting rock bottom. It is unfortunate that their salaries are not being paid because of the Houthis' carelessness. The rebels spent US$3 billion, almost the entire monetary reserves of Yemen, “in their war efforts" making it a total mess for Yemen.
Yemenis are poor people which got their country destroyed because of the Houthis' selfishness.
The collapse of the health care and the economy in Yemen is all because of the Houthis.
typical american
I've lived in Saudi Arabia for 16 years, and I need you to understand that not everything is about "Democracy" and "Freedom". Not cuz it works in europe and the USA, then it will work in the middle east. Lets say for a second that Saudi Arabia is no longer a monarchy and it becomes a democracy. Doesn't Democracy mean, for the people, of the people, by the people? Well, then let's study those people. If it were up to them, they'd oppress every woman, every foreigner, and every non saudi. if it were up to the people, there would be absolutely no economic fruition. For example, MANY of saudi locals think its religiously forbidden to get vaccinated. You really want those people to have the power? You really want the same people who had a massive slave trade to have power? Cuz it was King faisal who abolished slavery, not some revolution or war. It was King Abdulaziz who was able to successfuly united the tribes of Arabia under one banner. It was Prince Muhammad bin Salman who is constantly expanding women's rights in the kingdom. It was prince salman who completely modernized the capital of Saudi, riyadh. It was Saudi Arabia who took in millions of refugees, but dont place them in tents or camps, and instead incorporate them in normal society such as jobs and schools. If the power was in the people's hands, like in a normal democracy, it would become what is now known as Afghanistan.
Saudi Arabia is currently getting heavily involved in sports buying clubs and so on. Mostly this is “sports-washing” their terrible human rights record but I wonder also if they think this is diversification too. It’s not, as very few sporting endeavours majestic money but instead just consume it.
Suggesting that Africans had something to do with the slave trade? Somebody wants to be cancelled… 😏
7 billion in treasure of Spain forgot which water was found. The state of Israel said that all that treasure belong to the Juice. Since the owner of the boat was juice who was helping the Spain bring their gold and slaves. However that bring a contradiction. Juice were part of the slave trade but disguised as Blanco so they don't have to pay back all money made from selling slave or claim victim and them getting kicked out was racism. Video author had a bias in that regards.
10:42 hey hey people
There is an inference here that the poor choices of third world monarchies are somehow the responsibility, at least in part, of the west. If monarchial societies, rich or poor, fail to change and advance in such a way as to secure their futures, that rests fully on them. We pay the Saudis fair market prices for their oil. That provides them with great wealth. If they squander it, the west cannot help that.
Lmao the song in the background is the same as the halo 3 believe trailer
The Congolese had enslaved Africans from other tribes long before they ever encountered the Portuguese. The Portuguese knew this, so they went to the Congolese to buy slaves. This video implies that the Congolese only started taking slaves because of Portuguese influence. There was no kidnapping. Slavery is a repulsive practice, but please don't try to whitewash parts of its history to be politically correct.
I think this video should be seen by every Indian living in the Arab Gulf
Interesting twist haha
10:42 ssethtzeentach reference
I had to listen to the last sentence to realize why most of the video was about the history of the Congo.
Great video however i think arabs are trying to change this
Eurocentric crap, people like you always assume things that you have zero idea of
All shithole countries should be boycotted by civilized countries frankly. Look what happens every time you tolerate some shithole dictatorship long enough – you get things like the invasion of Ukraine.
I think that this video is full of inaccurate information, lacks references and ends up with a very illogical comparison.
For an instance, the video makers choose to ignore the different time frames that naturally dictates different rules for comparison due to different circumstances thus making the whole argument weak and illogical.
In addition, the makers of this content ignore the fact that the gulf states hold one of the biggest investments in: real-estate,technology and other sectors in the west. Such investments act as guarantees for the future.
Further, the makers of this video ignore the fact that oil and gas will not run out anytime soon. Meanwhile all the gulf states have decades long diversification plans that are doing well according to published data (Take the UAE or Neom project for example).
Finally, it is really wrong to compare 21st century modern countries such as the gulf states to an 18 century kingdom. Making things even wrong is the attempt to come up with a conclusion out of this unbalanced illogical comparison.
The gulf states countries are countries with the lowest illiteracy ratings in the whole world and are famous for investing in areas such as: education, healthcare and welfare.
Adding to the above and just to show how absurd the argument is.. the gulf nations are pioneers in industry and engineering plus through their own means and technologies send a probe to Mars.
Such nations with such human capital and strong leadership with strategic ambitions that illustrates in each nations plan for diversification are resilient nations.
At the end i just want to point out another fallacy, the gulf nations helped stabilize the middle east and are setting an example for good natured intentions towards the world as demonstrated in the abrahamic accords.
Please be fare!
I mean what you're really describing is the establishment of a comparador class which destroys the productive capacities of the nations they run. Similarly in India, much of the industrialization which happened and made the Mughals so great was reversed by petty landlords who had far more to gain from British domination and shifting of industry towards Britian purely due to the fact that it meant that their fiefdoms were more profitable, artisans and trade people were less powerful, and lastly the Emperors power was undermined. I'm assuming within the Kongo, you would be see the rise of military cliques which made their financial gains off slavery which like oil isn't eternal nor endless. If it were safe to say that the Kongo was prior to the mass expansion of wars for slavery was a sort of feudal system, you could make the point that it underdeveloped into something closer to something closer to a slave empires of the Classical Era. A similar thing almost happened with the Confederacy due to the Southern gentry fear of republicanism and capitalism undermining their faux feudal society.
"tell me you have no idea what you're talking about without telling me you have no idea what you're talking about"
nicely done, have a comment
How about you focus on your brain dead society where your "men" are gay, women and feminists that sleep with 20 guys and don't forget your low birth rate because you would rather have 3 dogs
Go focus on your lesbian daughter and gay son
Keep coping your western birth rate is low
So it all started with Coffee and Chocolate
Let us hope that evil nation collapses
Strategy games like Attila Total War and Three Kingdoms Total War also stresses the importance of technological innovation, reformed government and diversified economy are crucial for survival.
You have shown UAE as well but I don't think so.
They are diversifying very rapidly.
They are trying to become Singapore of middle East, low taxes are attracting entrepreneurs to setup their startup headquarters in UAE, they are also investing in education heavily, they recently asked India to setup a branch of India's top engineering college the IIT in Dubai, they also made a FTA with India, they are also investing in space program with the help of USA and Japan and they are investing in many more things.
And not to forget their tourism sector is huge, it attracts very large number of tourists every year.
I am sure these guys will sail through.
Like the Congo, citizens of Saudi Arabia do not elect their leaders.
11 minutes unitill he talks about Saudi Arabia. I fell like the title is misleading.
Good, this area of the world is the black rotten center of the slowly dying apple. A tumour that needs to be cleansed. For decades we consume fossil fuels from this region, a region controlled by a cartel of nasty dictators who manipulate and abuse the entire global system for their own wealth. Tendrils from a toxic area stretching into the policies of every country. Our politicians sell out, getting in bed with these criminals all the while pretending we are civilized because we have 'human rights' and 'freedoms'. If we make deals with people who have none of these things then we are just as bad.
The faster we stop using fossil fuels and the faster these powers are gone the more hope we have as a species of survival. Time to move on from barbaric ways.
If the Kongo simply kept some of those slaves instead of ship them all away, I’m willing to bet they could have evolved out of slavery like the European powers did
This is the most impressive historical comparison i have ever seen. This channel is so underrated.
Bravo .
A.G.I Will be man's last invention
based
The value of the euro is getting lower everyday, the US economy is headed into recession, and yet the west still want to lecture the world on how to run their countries/economies.
I love the country but not the government
is it just me or the audio is kinda fucked