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give an example that shows how oil wealth in oil-rich countries is unevenly distributed

Question

Give an example that shows how oil wealth in oil-rich countries is unevenly distributed.

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Solution

Sure, let's take the example of Saudi Arabia, a country known for its vast oil reserves.

  1. Oil Wealth: Saudi Arabia is the world's largest oil producer and exporter. The oil sector accounts for about 90% of the country's budget revenues, 90% of export earnings, and 50% of its GDP.

  2. Uneven Distribution: Despite the country's immense oil wealth, the benefits are not evenly distributed among the population. The royal family and elites associated with them control a significant portion of the wealth. They live in opulence with luxurious lifestyles, while a large part of the population struggles with issues like unemployment and poverty.

  3. Economic Disparity: The economic disparity is

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