The Western powers suddenly look powerless. The Arab revolts have electrified the news and shocked the markets.
The US and UK, happy to champion democracy in the non-oil producing states, have issued warm words about the protest movements in Tunisia and Egypt. And they have switched from support to hostility to the Libyan dictator Gaddafi, seeing the strength of the revolt against him. The world can just about manage without Libyan oil. Saudi Arabia is a different matter. The West is not making any speeches about the need for a democratic revolution there, and continues to maintain friendly relations with the world’s largest oil producer. Saudi itself has plenty of money and has decided to spend m...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
