Kuwait: The hidden moneymaker of the middle East
Summary :
Table of Contents
- Introduction
- The discovery of large oil fields in Kuwait
- Kuwait's GDP per capita from 1985 to 2007 in US dollars and Kuwaiti
- Rise and fall of Kuwait's GDP
- Rise in inflation
- Increase in foreign income
- Problems faced by the employees in Kuwait
- The trend in Kuwait's export-import
- Current economic situation
- Conclusion
- Bibliography
Abstract
kuwait is a small sovereign emirate strategically located on the northwestern coast of the Persian Gulf, tucked between Saudi Arabia and Iraq. The name comes from an Arabic word translating to "fortress built near water," which it very much looks like on a map. It has a rich history that goes back to the Ottoman Empire, when it was assigned as a territory of the empire with its own emir, or emperor. In 1922, the Treaty of Uqair defined the kuwait-Saudi Arabia border and the neutral zone between them. Oil was first discovered during the 1930's, and during this time, the government became more proactive in declaring internationally recognized borders. After the fall of the Ottoman Empire, in the period after World War I, the British Empire declared kuwait an independent state under British rule.
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