In Riyadh, Resolve Differs From Reality

The news from Riyadh on the massive economic shake-up set to unfurl is classic Saudi. Vision 2030 is bold and brash, aligning with a “bigger is better” mindset. It begs sacrifice from a society that has come of age expecting the state to be the provider-of-perpetual-resort; it panders to nationalist sentiment with greater military outlays. We would be foolish to question Saudi resolve, but we suggest that the plan boils down to a curious exercise in fiscal engineering. Riyadh neglects to recognize the fact that it needs stellar global growth to strengthen and validate its ambitions. Such growth is fanciful at best. Better for the government to conjure the myth of the self-sufficient Bedouin.

Learn more at The Telegraph

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Bourse Performance

We spotlight the best-performing stock exchanges across emerging markets worldwide.

Top Five
Year-to-Date Through 30 June 2020

China2.6 %
Taiwan-2.5%
Korea-7.7%
Malaysia-10.4%
Qatar-14.8%

Data is shown on a price-return basis in US dollar terms for the broad market index. In this context, we do not report on narrow segments such as China A shares or Russia ADRs. This list excludes performance information on smaller, so-called frontier markets.

Source: MSCI.