Saudi Arabia's Myopic Vision for Reform

Like many of its neighbors in the Gulf region, Saudi Arabia is scrambling to adjust to a world of low oil prices. The Saudi economy, which relies heavily on oil production, has sputtered and stalled over the past few years, rapidly depleting Riyadh's once-enormous cash reserves. In a desperate attempt to rescue the kingdom's foundering finances, Saudi rulers have hastily pulled together a plan to diversify the economy and end its dependence on oil once and for all. But instead of saving Saudi Arabia, the solution Deputy Crown Prince Mohammed bin Salman has proposed will almost certainly lead to its ruin....