Description
Question 1: What do you know about Globalization?
Consider what you learned from the lecture and readings
this week and discuss how economic interdependence
has affected Saudi Arabia. Is it good or bad? Expand
your thinking to additionally discuss the relationship
between Saudi Vision 2030 and international
competitiveness .
Directions:
Discuss the concepts, principles, and theories from your
textbook. Cite your textbooks and cite any other sources
if appropriate .
Your initial post should address all components of the
question with a 500 word limit.
Question 2: Reply to two discussion (between 70 – 150
words) for each student.
Discussion – Student 1
Economic interdependence refers to the mutual reliance between countries for goods,
services, and capital. For Saudi Arabia, this phenomenon has both positive and
negative implications, particularly in light of the ambitious goals outlined in Saudi
Vision 2030. This strategic framework aims to diversify the economy, reduce
dependence on oil, and enhance international competitiveness.
One of the most significant impacts of economic interdependence on Saudi Arabia is
its vulnerability to global market fluctuations. The Kingdom’s economy has
historically relied heavily on oil exports, making it susceptible to price volatility (AlFadhli, 2020). For instance, during periods of low oil prices, the Saudi government
faces budget deficits, which can lead to cuts in public spending and investments.
However, this interdependence also provides opportunities for growth. By engaging in
international trade and attracting foreign investments, Saudi Arabia can stimulate
economic diversification and innovation (World Bank, 2021).
Moreover, economic interdependence has facilitated technological transfer and
knowledge sharing. Collaborations with foreign companies and institutions have
enabled Saudi Arabia to adopt advanced technologies and improve its industrial
capabilities. This is particularly relevant for the goals of Vision 2030, which
emphasizes the importance of fostering a knowledge-based economy (Saudi Vision
2030, 2016). By integrating into global supply chains, Saudi Arabia can enhance its
competitiveness and create jobs in emerging sectors such as renewable energy,
tourism, and information technology.
However, the reliance on foreign economies can also pose risks. Political instability in
partner countries or global economic downturns can adversely affect Saudi Arabia’s
growth trajectory. Additionally, the influx of foreign companies might lead to a brain
drain, where local talent is overshadowed by international expertise, potentially
stifling domestic innovation (Alkhateeb, 2019).
In conclusion, while economic interdependence presents both challenges and
opportunities for Saudi Arabia, its alignment with Vision 2030 can lead to a more
resilient and competitive economy. The Kingdom must navigate the complexities of
global interdependence carefully, leveraging its position to foster sustainable growth
while mitigating potential risks. Ultimately, the success of Vision 2030 will depend
on how effectively Saudi Arabia can balance these dynamics in an increasingly
interconnected world.
References
Al-Fadhli, A. (2020). Economic Diversification in Saudi Arabia: The Role of Foreign
Direct Investment. Journal of Economic Studies, 47(5), 1093-1105.
Alkhateeb, T. (2019). The Impact of Globalization on Saudi Arabia’s Economy.
Middle East Journal of Business, 14(1), 15-20.
Saudi Vision 2030. (2016). Kingdom of Saudi Arabia. Retrieved from Vision 2030
Answer: (between 70 – 150 words)
Discussion – Student 2
Globalization and Saudi Arabia: Economic Interdependence and Vision 2030
Globalization, characterized by the growing interdependence of economies, has had a
substantial influence on Saudi Arabia. One of the main features of globalization is economic
interdependence, which describes how nations depend on one another for capital, goods, and
services. This has an impact on Saudi Arabia’s foreign policy, economy, and international
relations.
Economic Interdependence and Saudi Arabia
For Saudi Arabia, economic interdependence has advantages and disadvantages. Positively,
it has improved technological capabilities, encouraged foreign investment, and allowed
economic diversity. Saudi Arabia has long been a part of the global economy as a major oil
producer, and its prosperity is largely dependent on the performance of the world’s oil
markets. As demonstrated by the oil price collapse of 2014–2016, which brought attention to
the dangers of over-reliance on a single commodity, the nation’s reliance on oil revenues has
left it susceptible to market volatility (Yergin, 2020).
Saudi Arabia has worked to diversify its economy through programs like Saudi Vision 2030 to
reduce these risks. This diversification has been made possible by economic
interdependence, which has made it possible for FDI, international trade, and knowledge
transfer. Non-oil industries like tourism, entertainment, and technology have grown as a result
of partnerships with foreign businesses (Todaro & Smith, 2020).
But there are drawbacks to economic interconnectedness as well. Globalization and the flood
of foreign capital could upend established cultural norms and widen the economic divide.
Furthermore, Saudi Arabia is vulnerable to external economic shocks like recessions in
significant trade partners or changes in the world’s demand for oil due to its reliance on
international markets (Steger, 2020).
Saudi Vision 2030 and International Competitiveness
The objectives of Saudi Vision 2030 are to increase global competitiveness, diversify the
economy, and lessen reliance on oil. By highlighting international cooperation, drawing in
foreign capital, and integrating the Saudi economy into the world market, the vision is in line
with globalization (Todaro & Smith, 2020).
Improving infrastructure, encouraging innovation, and investing in human resources are all
important aspects of Vision 2030’s goal of making Saudi Arabia more competitive. Saudi
Arabia wants to grow a knowledge-based economy, draw in more foreign direct investment,
and generate jobs by opening up to international markets. The strategy calls for growing
industries that are less susceptible to fluctuations in oil prices, such as renewable energy,
tourism, and healthcare (Yergin, 2020).
By fostering a business-friendly atmosphere, Vision 2030 also aims to establish Saudi Arabia
as a major international investment destination. With the help of special economic zones that
provide advantages for foreign enterprises to operate in Saudi Arabia, rules, taxes, and labor
laws are being reformed in an effort to draw in foreign investment (Steger, 2020).
However, striking a balance between economic reforms and the social and cultural shifts
brought about by more globalization is essential to Vision 2030’s success. To accomplish its
objectives, the Kingdom needs to deal with issues including environmental sustainability,
social inclusion, and workforce development (Todaro & Smith, 2020).
Conclusion
To sum up, Saudi Arabia has been greatly impacted by economic interdependence, which
has brought up both opportunities and problems. Globalization has made economic growth
and diversification easier, but it has also made the Kingdom more vulnerable to threats
associated with the world market. Saudi Vision 2030 is a calculated reaction that seeks to
balance the dangers and benefits of globalization in order to improve Saudi Arabia’s
competitiveness on the global stage.
References
1. Todaro, M. P., & Smith, S. C. (2020). Economic Development (12th ed.). Pearson
Education.
1. Steger, M. B. (2020). Globalization: A Very Short Introduction (5th ed.). Oxford
University Press.
1. Yergin, D. (2020). The New Map: Energy, Climate, and the Clash of Nations. Penguin
Press.
Answer: (between 70 – 150 words)
7/5/23, 11:31 AM
Operations Management
Name
Discussion 25
Description
25 points
Rubric Detail
Levels of Achievement
Criteria
Exceeds
Expectations
Meets
Expectation
Some
Expectations
Unsatisfactory
Quantity
5 to 6 points
3 to 4 points
1 to 2 points
0 to 0 points
Initial post and
two other posts
of substance.
Initial post and
one other post
of substance.
Initial post only.
Did not
participate.
5 to 6 points
3 to 4 points
1 to 2 points
0 to 0 points
Demonstrates
excellent
knowledge of
concepts, skills,
and theories
relevant to the
topic.
Demonstrates
knowledge of
concepts, skills,
and theories.
Demonstrates
satisfactory
knowledge of
concepts, skills,
and theories.
Did not
participate.
5 to 6 points
3 to 4 points
1 to 2 points
0 to 0 points
Discussion
post(s) exceed
expectations in
terms of support
provided and
extend the
discussion.
Discussion
post(s) meet
expectations in
terms of
support
provided.
Statements are
satisfactory in
terms of
support
provided.
Did not
participate.
6 to 7 points
4 to 5 points
1 to 2 points
0 to 0 points
Writing is well
organized, clear,
concise, and
focused; no
errors.
Some significant
but not major
errors or
omissions in
writing
organization,
focus, and
clarity.
Numerous
significant
errors or
omissions in
writing
organization,
focus, and
clarity.
Did not
participate.
Content
Support
Writing
View Associated
Items
Consider what you learned from the lecture and readings
this week and discuss how economic interdependence
has affected Saudi Arabia. Is it good or bad? Expand
your thinking to additionally discuss the relationship
between Saudi Vision 2030 and international
competitiveness .
Directions:
Discuss the concepts, principles, and theories from your
textbook. Cite your textbooks and cite any other sources
if appropriate .
Your initial post should address all components of the
question with a 500 word limit.
Question 2: Reply to two discussion (between 70 – 150
words) for each student.
Discussion – Student 1
Economic interdependence refers to the mutual reliance between countries for goods,
services, and capital. For Saudi Arabia, this phenomenon has both positive and
negative implications, particularly in light of the ambitious goals outlined in Saudi
Vision 2030. This strategic framework aims to diversify the economy, reduce
dependence on oil, and enhance international competitiveness.
One of the most significant impacts of economic interdependence on Saudi Arabia is
its vulnerability to global market fluctuations. The Kingdom’s economy has
historically relied heavily on oil exports, making it susceptible to price volatility (AlFadhli, 2020). For instance, during periods of low oil prices, the Saudi government
faces budget deficits, which can lead to cuts in public spending and investments.
However, this interdependence also provides opportunities for growth. By engaging in
international trade and attracting foreign investments, Saudi Arabia can stimulate
economic diversification and innovation (World Bank, 2021).
Moreover, economic interdependence has facilitated technological transfer and
knowledge sharing. Collaborations with foreign companies and institutions have
enabled Saudi Arabia to adopt advanced technologies and improve its industrial
capabilities. This is particularly relevant for the goals of Vision 2030, which
emphasizes the importance of fostering a knowledge-based economy (Saudi Vision
2030, 2016). By integrating into global supply chains, Saudi Arabia can enhance its
competitiveness and create jobs in emerging sectors such as renewable energy,
tourism, and information technology.
However, the reliance on foreign economies can also pose risks. Political instability in
partner countries or global economic downturns can adversely affect Saudi Arabia’s
growth trajectory. Additionally, the influx of foreign companies might lead to a brain
drain, where local talent is overshadowed by international expertise, potentially
stifling domestic innovation (Alkhateeb, 2019).
In conclusion, while economic interdependence presents both challenges and
opportunities for Saudi Arabia, its alignment with Vision 2030 can lead to a more
resilient and competitive economy. The Kingdom must navigate the complexities of
global interdependence carefully, leveraging its position to foster sustainable growth
while mitigating potential risks. Ultimately, the success of Vision 2030 will depend
on how effectively Saudi Arabia can balance these dynamics in an increasingly
interconnected world.
References
Al-Fadhli, A. (2020). Economic Diversification in Saudi Arabia: The Role of Foreign
Direct Investment. Journal of Economic Studies, 47(5), 1093-1105.
Alkhateeb, T. (2019). The Impact of Globalization on Saudi Arabia’s Economy.
Middle East Journal of Business, 14(1), 15-20.
Saudi Vision 2030. (2016). Kingdom of Saudi Arabia. Retrieved from Vision 2030
Answer: (between 70 – 150 words)
Discussion – Student 2
Globalization and Saudi Arabia: Economic Interdependence and Vision 2030
Globalization, characterized by the growing interdependence of economies, has had a
substantial influence on Saudi Arabia. One of the main features of globalization is economic
interdependence, which describes how nations depend on one another for capital, goods, and
services. This has an impact on Saudi Arabia’s foreign policy, economy, and international
relations.
Economic Interdependence and Saudi Arabia
For Saudi Arabia, economic interdependence has advantages and disadvantages. Positively,
it has improved technological capabilities, encouraged foreign investment, and allowed
economic diversity. Saudi Arabia has long been a part of the global economy as a major oil
producer, and its prosperity is largely dependent on the performance of the world’s oil
markets. As demonstrated by the oil price collapse of 2014–2016, which brought attention to
the dangers of over-reliance on a single commodity, the nation’s reliance on oil revenues has
left it susceptible to market volatility (Yergin, 2020).
Saudi Arabia has worked to diversify its economy through programs like Saudi Vision 2030 to
reduce these risks. This diversification has been made possible by economic
interdependence, which has made it possible for FDI, international trade, and knowledge
transfer. Non-oil industries like tourism, entertainment, and technology have grown as a result
of partnerships with foreign businesses (Todaro & Smith, 2020).
But there are drawbacks to economic interconnectedness as well. Globalization and the flood
of foreign capital could upend established cultural norms and widen the economic divide.
Furthermore, Saudi Arabia is vulnerable to external economic shocks like recessions in
significant trade partners or changes in the world’s demand for oil due to its reliance on
international markets (Steger, 2020).
Saudi Vision 2030 and International Competitiveness
The objectives of Saudi Vision 2030 are to increase global competitiveness, diversify the
economy, and lessen reliance on oil. By highlighting international cooperation, drawing in
foreign capital, and integrating the Saudi economy into the world market, the vision is in line
with globalization (Todaro & Smith, 2020).
Improving infrastructure, encouraging innovation, and investing in human resources are all
important aspects of Vision 2030’s goal of making Saudi Arabia more competitive. Saudi
Arabia wants to grow a knowledge-based economy, draw in more foreign direct investment,
and generate jobs by opening up to international markets. The strategy calls for growing
industries that are less susceptible to fluctuations in oil prices, such as renewable energy,
tourism, and healthcare (Yergin, 2020).
By fostering a business-friendly atmosphere, Vision 2030 also aims to establish Saudi Arabia
as a major international investment destination. With the help of special economic zones that
provide advantages for foreign enterprises to operate in Saudi Arabia, rules, taxes, and labor
laws are being reformed in an effort to draw in foreign investment (Steger, 2020).
However, striking a balance between economic reforms and the social and cultural shifts
brought about by more globalization is essential to Vision 2030’s success. To accomplish its
objectives, the Kingdom needs to deal with issues including environmental sustainability,
social inclusion, and workforce development (Todaro & Smith, 2020).
Conclusion
To sum up, Saudi Arabia has been greatly impacted by economic interdependence, which
has brought up both opportunities and problems. Globalization has made economic growth
and diversification easier, but it has also made the Kingdom more vulnerable to threats
associated with the world market. Saudi Vision 2030 is a calculated reaction that seeks to
balance the dangers and benefits of globalization in order to improve Saudi Arabia’s
competitiveness on the global stage.
References
1. Todaro, M. P., & Smith, S. C. (2020). Economic Development (12th ed.). Pearson
Education.
1. Steger, M. B. (2020). Globalization: A Very Short Introduction (5th ed.). Oxford
University Press.
1. Yergin, D. (2020). The New Map: Energy, Climate, and the Clash of Nations. Penguin
Press.
Answer: (between 70 – 150 words)
7/5/23, 11:31 AM
Operations Management
Name
Discussion 25
Description
25 points
Rubric Detail
Levels of Achievement
Criteria
Exceeds
Expectations
Meets
Expectation
Some
Expectations
Unsatisfactory
Quantity
5 to 6 points
3 to 4 points
1 to 2 points
0 to 0 points
Initial post and
two other posts
of substance.
Initial post and
one other post
of substance.
Initial post only.
Did not
participate.
5 to 6 points
3 to 4 points
1 to 2 points
0 to 0 points
Demonstrates
excellent
knowledge of
concepts, skills,
and theories
relevant to the
topic.
Demonstrates
knowledge of
concepts, skills,
and theories.
Demonstrates
satisfactory
knowledge of
concepts, skills,
and theories.
Did not
participate.
5 to 6 points
3 to 4 points
1 to 2 points
0 to 0 points
Discussion
post(s) exceed
expectations in
terms of support
provided and
extend the
discussion.
Discussion
post(s) meet
expectations in
terms of
support
provided.
Statements are
satisfactory in
terms of
support
provided.
Did not
participate.
6 to 7 points
4 to 5 points
1 to 2 points
0 to 0 points
Writing is well
organized, clear,
concise, and
focused; no
errors.
Some significant
but not major
errors or
omissions in
writing
organization,
focus, and
clarity.
Numerous
significant
errors or
omissions in
writing
organization,
focus, and
clarity.
Did not
participate.
Content
Support
Writing
View Associated
Items
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