Why Saudi Arabia is tilting East | Arab News:
The ineluctable process of what a wise man called “easternization” continued with the visit of Saudi Crown Prince Mohammed bin Salman to three of Asia’s biggest economies. But it would be a mistake to see it as a reaction to any perceived hiccup in relations between the Kingdom and the West.
In truth, the tilt of the global economy toward the fast-growing economies of Asia has been an unstoppable force in the world since Deng Xiaoping, the former president of China, opened up the country to entrepreneurial capitalism at the end of the 1980s.
It was given a huge impetus in 2008, when the global financial crisis made many in the eastern hemisphere realize that perhaps the old ways of the West were not the best for the world economy. There were other economic models that could be adopted, and they were already in effective service in the fast-growing economies of Asia.
No comments:
Post a Comment