Memoirs of a Saudi Pilot: In the Beautiful State of Alabama (USA) is an exciting and revealing book about the wonders and culture shock experienced by a traditional, conservative Islamic Arab coming to the United States for the first time, creating some unforgettable memories. The book deals with the author's initial exposure to a foreign, advanced Western country, the new experiences he faces, the culture shock, and sharing his religious teachings with his American hosts. He writes, "At the end, it was wonderful experience, coming from a traditional and conservative Arab and Islamic culture, and having the great opportunity to study and live in the West. Moreover, this was further highlighted during the Second Gulf War, Desert Shield, Desert Storm." The main characters are his colleagues in military training from 1983 to 2011. "I was deeply motivated by wonderful American colleagues in training who were always there to help, and yet were willing to share in my culture and religion, much as I was trying to understand theirs.
The extraordinary memoir of global oil's former central banker Ali Al-Naimi is the former Saudi oil minister - and OPEC kingpin - a position he held for the two decades between August 1995 and May 2016. In this time, Al-Naimi's briefest utterances moved markets. But it wasn't always that way. Al-Naimi was born into abject poverty as a nomadic Bedouin in the 1930s, just as US companies were discovering vast quantities of oil under the baking Arabian deserts. From his first job as a shepherd boy, aged four, to his appointment to one of the most powerful political and economic jobs in the world, Out of the Desert charts Al-Naimi's extraordinary rise to power. Described by Alan Greenspan as 'the most powerful man you've never heard of', Al-Naimi's incredible journey proves that anyone can make it - even a poor Bedouin shepherd boy. This is his exclusive inside story of power, politics and oil. His Excellency Ali Ibrahim Al-Naimi is the former Minister of Petroleum and Mineral Resources for the Kingdom of Saudi Arabia. One of the most powerful economic and political jobs in the world, he held this post from August 1995 to May 2016. Prior to that he held a wide range of leadership positions in the Kingdom's national oil company, Saudi Aramco. He was the first Saudi national to be named President of the company in 1984 and became the first Saudi CEO in 1988. Al-Naimi joined the company, then called Aramco, as an office boy in 1947. A Bedouin, he was born in the deserts of eastern Arabia in 1935.
A significant volume of literature has been developed that seeks to provide an explanation for the growth of FDI and its impact on less developed countries. The literature is characterized by diversity and controversy. Based on it, a range of reasons for encouraging investment have been proposed including its favorable effects on employment levels, the balance of payments and balance of trade of the host country and also the potential for acquisition of technology and skills (Cave: 1982 and Dunning: 1993). Equally, the potentially negative effects of growing levels of foreign investment on domestic market structures and national sovereignty have long been the focus of attention (Vernon: 1971 and Jenkins: 1987). More recent studies focused on the positive effect FDI can create through the integration of a host country into the global economy and the system of international division of labor based on fragmentation of production (Gereffi and Korzeniewicz: 1994, and Henderson, Decken, Hess, Coe and Yeung: 2002). Little if any research has examined the impact of FDI on the oil monarchies. Conventional expectations persisted that once they enter the post-oil phase of their histories, it will be difficult for them to uphold their political legitimacy and survive intense domestic and international pressures upon their regimes (Taeker: 1998 and O'Reilly: 1999). It has been argued that oil income enable them to pacify opponents by providing their subjects with jobs that pay well and has had detrimental effect on both economic development and political liberalization. These expectations have tended to be contradicted by actual development. The private sector has become remarkably strong in the oil monarchies and their governments were not highly resistant to change as depicted by the rentier state paradigm (Mahdavy: 1970, and Beblawi: 1987). Taking Bahrain as a case study, this thesis argues that despite its limitations as a small nation and the paucity of its oil reserves, Bahrain punched well above its weight due to its open economy and foreign direct investment. Its domestic economy is well integrated into the global market. It was able to exploit some of the opportunities that were presented by economic globalization when niches were opened or vacated within the networks of global production. It has developed energy-intensive industries (aluminium and petrochemicals) and became the major financial centre of the Middle East. Yet in spite of the government incentives, it still faces some challenges in attracting FDI in downstream activities related to oil and aluminium, which suggests that additional reforms are needed.
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