Major changes are never going without instability, conflict and possible crisis. Saudi Arabia’s dramatic change to diversify its economy away from an oil-based rentier state status is not going as smooth as expected. The continuing delay of the Aramco IPO, the struggling gigaprojects commissioned by the sovereign wealth fund PIF, and changes to the social fabric, could be undermining the position of the Saudi Crown Prince Mohammed bin Salman. Conservatives and religious extremists could be heading for a showdown, if the implementation of Saudi Vision 2030 is showing weaknesses. Internal royal opposition still exists, but until now MBS has been partly saved by the full-support of his father, King Salman. Looking at the situation on the ground, a showdown is looming… is another Ritz Carlton in the making? International criticism on the ongoing dramatic changes inside of the Kingdom has been growing. Western media sources seem to have picked […]