In an ironic decision, Saudi Arabia’s Muslim rulers, leading anti-Communists of the Cold War, may be adopting the economic management model of the atheist Communist Party of China. But rulers gotta rule… Prince Mohammad bin Salman Al Saud of Saudi Arabia recently announced Vision 2030 , the most ambitious Saudization project ever, likely driven by a $150 billion drop in reserves due to a steep decline in oil prices. Among the project’s stated objectives are some hardy perennials: reduce the role of the public sector and make the private sector the engine of the economy, reduce dependence on oil, increase participation of women in the work force, reduce corruption, and an unprecedented public share offering of 5 percent of Saudi Aramco (the Saudi Arabian Oil Company) to recapitalize the country’s reserves. But the key goal isn’t mentioned: ensure the continuing rule of the country by the Al-Saud family. Vision […]