Economy of Saudi Arabia and Canada Research Paper

Economy of Saudi Arabia and Canada - Research Paper Example In this case it is worth noting that these two countries are of the developed world and for that matter are in the first world countries. The various similarities that come into play are going to be focused on. The Saudi Arabian economy is one which is majorly based on its oil production capabilities. In this case it is worth noting that the country produces a significant amount of oil on the global market. For this reason, the revenues that are generated from the oil activities are very influential in the developments that are taking place in the Saudi Arabian economy. The other thing which is worth noting is that the Saudi government is an entity which has significant influence in the happenings of this economy. The revenue which is gotten from petroleum and its associated products accounts for close to 45 per cent of the total budget of the country. On the other hand, close to 40 per cent of the GDP in the country comes from the private sector. It is worth noting that the economy in the country is very encouraging to investments especially from the locals and also foreign investors. This significant developments in the financial well-being of the country has attracted quite a lot of for eign workers in the country. The figure at the moment stands at close to six million foreign workers. These are centered in the oil industries and also the private sector. Initially before the inception of the oil phenomenon, the Saudi economy was largely dependent on nomadic pastoralism. This was until the discovery of oil in the country. After the oil crisis that occurred in the year 1973, the country realized significant growth in its GDP. The GDP per capita in the 1970s went up by close to 2 per cent. As at the year 2009, the World Bank set Saudi Arabia as the strongest economy in Arab world. Saudi Arabia has the second largest oil reserves in the world. The figures that w4ere released by the government put this at close to 260 billion barrels of oil. This

Why might democracies be more peaceful in their relations with each Essay

Why might democracies be more peaceful in their relations with each other than with states that are not democracies - Essay Example The democratic government is chose by the people. The democracy in a state or a country works for the people. This fundamental of democracy had continued initially from the era of Roman Empire up to now. The autocracies even led to wars in the ancient times also. The principle of autocracy had been discontinued from that time only. The people at that time elected their own representatives for their benefits. The individualism had significant role from the past up to now. The rulers in the past followed the individualism but in today's era there is democracy in all the parts of the country. Thus there were huge amount of wars which were causing destruction only. In today's era, the democracy has changes the trend towards political and economic liberalization over the past century. The dynamic relations all over the world are quite important for the countries today. The democracy has enabled the different countries to make peaceful relations with each other. The democratically formed rules have enforced the government to work accordingly, thus making worthy relations with other countries. Thus the countries having democracies are maintaining themselves for development of their own as well as of the world. The countries which had not been a democracy today are deferring immensely in development and are threatening other countries. Thus they are not maintaining the peaceful relations. Iran, whose Supreme Leader is a religious figure unfettered by popular elections, and threatens to develop nuclear weapons and potentially wants to dominate the Middle East. The relative lack of attention to variation in the international behavior of non-democratic states represents a startling omission. There are many other countries also which are only having the one party rule like the China and others, but are really maintaining the excellent coalition with other countries. The countries which are not having democracy are having either one party rule or either the dictatorship like the recent one in Afghanistan by the Taliban. Thus these countries never had been on the road of development, relations with other countries, but instead they threatened other countries for wars. The plane attack on plane America on 9th September, 2001by the militants was result of that only. Thus the individualism is neither better for a country nor for the world. So the countries must have a democratic form of government. From the example of Syria it had been clear that democracy is quite important. If the democracy will not exist in a particular country, then it will be under a single person or party, thus these countries are responsible for the wars as conceded from the past also. These countries will cause a threat to other countries and there will be a war like the dictatorship in the past in the Germany, the Italy, and the Japan was responsible for