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Saudi Arabia is in recovery from petroleum addiction

The Kingdom of Saudi Arabia has announced the vision 2030 in 2016. This explained vision was a long-term economic blueprint to transform the Kingdom’s economy aimed at minimizing the country’s reliance on oil. The petroleum sector accounts for roughly 85% of Saudi budget revenues. However, why the Kingdom wants to cut down of oil revenue rate in national budget? The economy of Saudi Arabia is dependent on oil cause Saudi oil reserves are the second largest in the world. Also it is the world’s leading oil exporter and second largest producer. Meanwhile, the total export and petroleum revenues have been decreasing franctionally since 2012 due to starting to decline of OPEC crude oil price. As you can see on the above graphic, the total export of Kingdom had gone down from $387 billion in 2012 to $207 billion in 2016. As for oil export had decreased from $336 billion to $163 billion in the same period. The reason of this decline, the average annual OPEC crude oil pri
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Authoritarian regimes are on the rise against democracies.

On January,2018, Steven Levitsky and Daniel Ziblatt,two Harvard political scientists, published their new book is called “How Democracies Die”. Steven levitsky and Daniel Ziblatt try to give an answer that democracies are in danger or not in today’s world. During and after 2016 election, they realized that Donald Trump is a treat to democracy. Cause Trump acted like a demagogue to the other candidate. As many people watched on the TV show, Donald Trump threatened to lock up hic political rival, Hillary Clinton,   if elected. It was the first time that a president rival behaving like this. In last decade, many candidates who became authoritarian leaders elsewhere in the world behave like this way such as Vladimir Putin, Tayyip Erdogan, Trump, Emmanuel Macron. But why did they adopted this act? In recent years, people believed that the world is so close to a new war. The middle east problem is on one side and the huge immigrant problem is on the other side. Unemployment has b

How would additional tariffs affect American market?

On August 14 2017, the President issued a Memorandum instructing the Trade Representative to determine whether to investigate under section 301 of the Trade Act of 1974 (Trade Act) (19 U.S.C. 2411), laws, policies, practices, or 3 actions of the Government of China that may be unreasonable or discriminatory and that may be harming American intellectual property rights, innovation, or technology development. On August 18, 2017, after consultation with the appropriate advisory committees and the inter-agency Section 301 Committee, the United States Trade Representative (USTR) initiated an investigation into certain acts, policies, and practices of the Government of China related to technology transfer, intellectual property, and innovation. After USTR’s Section 301 investigation, President Trump announced in the second period of March that the United States will impose tariffs on $60 billion dollars in Chinese goods in response to China’s policies that stealing U.S. intellectu

Who Wins? Trump(!) or China

The world has started to 2018 with a huge economic turmoil. In early March, President Trump signed the circular about the new tariffs on steel and aluminum imports. Everybody knew that actually this was the precaution to China-U.S. trade. And China made the expected move yesterday. China Ministry of Finance has announced that China imposes tariffs on 128 items of imports from the U.S. including pork and fruit products starting Monday as a countermeasure in response to a previous U.S. move to slap tariffs on steel and aluminum imports. This was a big step from China. Lets take the issue from the beginning. Why did Trump want to crack down about China and U.S. trade? In 2016, Trump has accused China to steal U.S. intellectual property and abuse trade rules and he said that this situation allowed 6 million workforce loss in U.S during his president campaign. In his first year, he signed new tariffs on steel and aluminum. But Trump didnot want to stop. In the second per