Qatar: Too rich for its own good | The Economist

Qatar: Too rich for its own good | The Economist:



"HE WAS living proof that some people have all the luck. During the 18-year reign of Sheikh Hamad bin Khalifa al-Thani, which ended last year, Qatar’s population quadrupled. Its GDP grew sixfold to $200 billion, making its 2m-odd people the richest per person on Earth. The emirate’s Al Jazeera satellite channel, though it enraged many, was the most influential in the region. Its brash promotion of revolution with a Muslim Brother flavour looked prescient as friendly new Islamist governments sprouted in the Arab spring. Even the emir’s bid to bring the world’s biggest sporting event to his sweltering little state came off when in 2010 the international football body, FIFA, picked Qatar to hold the World Cup in 2022.



Sheikh Hamad quit when he was ahead, abruptly abdicating last June in favour of his son Tamim, now 34. Poor fellow. Barely a week into his reign Egypt’s army tossed out the Muslim Brotherhood government that Qatar had boosted to the tune of $8 billion. Neighbours in the Gulf, led by the looming giant next door, Saudi Arabia, began to squeeze the upstart emirate. Angered by Qatar’s dabbling in revolution, its hosting of exiled dissidents and by the leaking of old tapes said to capture top Qatari officials saying rude things about the Saudis, they withdrew ambassadors and threatened to shut their air space to Qatar."



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