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- October 23, 20269°
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- INTEREST36.00%-1.00
- BITCOIN81,682+0.45%
- October 23, 20269°
The Economist: Saudi crown prince's three big bets are faltering at once
The Economist argues that Saudi Crown Prince Mohammed bin Salman's bets on security, the Vision 2030 economy and close ties with President Trump are all under strain as Houthi attacks and the Iran war hit the kingdom.
Everything is going wrong for Saudi Crown Prince Mohammed bin Salman, The Economist argues in an analysis that says three of his biggest bets are faltering at the same time.
On security, the magazine says the confrontation with Yemen's Iran-backed Houthis has not produced the result Riyadh wanted, with the group firing missiles and drones at the Saudi capital for weeks. The growing threat, it argues, makes it harder to convince the world that the kingdom is a safe place to invest.
On the economy, it points to strain on Vision 2030, as funding problems and project delays combine with the need to divert resources to security.
The third bet was on President Donald Trump. The kingdom thought it had influence over him, the magazine writes, wooing him with promises of huge investments in America and deals with his family, but that did not stop him from embarking on what it calls a disastrous war.
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