Identify different strategies for economic development recently employed by nations such as Saudi Arabia, Turkey, Israel, and Egypt? How successful have they been, and how are they related to globalization?
What will be an ideal response?
Throughout the twentieth-century, Saudi Arabia has relied heavily on its extensive deposits of oil as an economic strategy. Both Turkey and Israel have developed diversified economies, with both agricultural and industrial products developed for global consumption. Egypt has a relatively mixed economy, although tourism is a very important component. The success of any of these strategies is related to fluctuations in the global price of commodities and existent political instabilities. Egypt, because of ongoing instability, has seen a downturn in tourism and an increase in its brain drain.
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