Industrialization in Saudi Arabia: A New Paradigm

In the 20th century, Saudi Arabia embraced crude oil and the Western powers demanding it. For the 21st century, Riyadh is turning away from both, as the government hopes to translate its wealth of raw resources into lasting industrial development. The plan is for the Saudis to use their cheap energy and become the world’s leading producer of petrochemicals. The emphasis on manufacturing over selling raw materials leads to more jobs, but not enough to hire the many young adults seeking work every year due to a fast-growing population. Saudi commercialists prefer working with a rising China over what they see as an increasingly aggressive US, self-destructive with so much debt. The Saudi merchants and commercialists – living in one of the most traditional societies on earth – demand education and labor reform, even opening the workplace to women, so that the country can be competitive in Asian markets. – YaleGlobal