Category: Economy
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The End of an Era: Unpacking the U.S.-Saudi Petrodollar Pact and Its Implications
The end of the 50-year-old petrodollar pact between the United States and Saudi Arabia is an event of monumental significance. In this long-standing arrangement, Saudi Arabia agreed to sell oil exclusively in U.S. dollars and invest in U.S. Treasuries in return for American military protection. This deal not only solidified the dollar’s dominance as the…
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Will Egypt’s $1 Billion Mega-Museum Revitalize Its Economy or Deepen Financial Strains?
The announcement that Egypt is building a $1 billion mega-museum has sparked considerable debate, with opinions ranging from enthusiastic support to staunch skepticism. Set to be one of the world’s largest of its kind, the museum aims to house countless artifacts of ancient Egyptian civilization, drawing tourists from across the globe. Proponents argue that the…