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Saudi Arabia resisted the temptation to
overspend
as the oil price rose and this may help it now, as the
price falls |
A senior banker considering a business trip in the wake of
September 11 is hesitant. "Some of the stories I have heard about
the way fellow nationals have been treated make me nervous about
travelling there," he says. It's not a US banker worried about the
risks of venturing outside North America but an Arab chief
executive contemplating a US trip.
One of the casualties in the aftermath of the attacks has been
global confidence in the Middle East. Immediately after, crude oil
prices spiked. But since then the fear has been that a global
economic slowdown might drive the oil price down, possibly to as
low as $10 a barrel. "These events have brought home to us that we
live in a global village and that we cannot be immune to
international...
