Globalization and Business Prospects
Oil and Middle East politics have, for a long time, situated Saudi Arabia at the center of the global stage. In recent years, however, the Kingdom’s involvement in global business has signifi cantly intensifi ed and major MNCs have actively operated in Arabian markets. In addition, Arabian family business houses and government enterprises which traditionally were interested in import and export activities have diversifi ed their businesses and some of them have become major global business actors (e.g., SABIC, ARAMCO, Kingdom Holding, Dalla Al-Baraka, Al Rajhi, etc.). In this chapter, several questions will be answered and a refl ection on the Kingdom’s economy in the era of globalization is provided. Does the Kingdom benefi t from actively participating in the Global economy? Does membership in the WTO facilitate MNCs’ operations in the Kingdom? Do family business houses benefi t from globalization? Can these houses cope with global challenges and expectations? Does globalization constitute a threat to the political stability of the Kingdom? These and other issues will be addressed.