The Intelligence from The Economist
Charming the prince: Biden seeks a deal with Saudi Arabia
Tue Jul 18 2023Description
The episode covers topics such as financial insights from Goldman Sachs, the construction of a sustainable city in Sweden using wood materials, diplomatic activities of Saudi Arabia's Crown Prince MBS, and the political situation in Cambodia.
Insights
Saudi Arabia's Demands for a Deal with Israel
Saudi Arabia has demands for the United States in exchange for a deal with Israel, including a stronger defense pact, expanded access to American weapons, and assistance in setting up a civilian nuclear program. However, the scope of these demands may face opposition in Washington.
Concerns about Wooden Buildings
While wooden buildings offer environmental benefits and cost advantages, fire hazards are a concern. However, engineered timber used in construction is fireproof due to its mass and lack of small kindling-like pieces. Standard fire precautions like sprinkler systems and alarm systems will be implemented in timber buildings.
Challenges in Achieving Agreement with Saudi Arabia
Biden's advisors see achieving an agreement with Saudi Arabia as a long shot due to public opinion and Israel's behavior. The Saudis also do not view normalization with Israel as a way to formalize an alliance for conflict in the region. It is uncertain which other Arab countries would be willing to join the Abrahamic courts.
Political Situation in Cambodia
Cambodia has been rebuilding since the genocide perpetrated by Pol Pot and the Khmer Rouge. The country's economy has boomed, but there have been negative side effects such as environmental destruction, corruption, and crime. Political oppression remains a concern, and younger generations are discontented with corruption and inequality.
Chapters
- Goldman Sachs Podcast: 'The Markets'
- Sustainable City Construction in Sweden
- Diplomatic Activities of Saudi Arabia's Crown Prince MBS
- Political Situation in Cambodia
Goldman Sachs Podcast: 'The Markets'
00:00 - 08:07
- Goldman Sachs provides financial insight through its podcast, 'The Markets'
Sustainable City Construction in Sweden
14:58 - 25:23
- Sweden is constructing a sustainable city using an innovative approach
- Sweden is building the world's biggest wooden city in Stockholm using sustainable wood materials.
- Wood is environmentally friendly and locks up carbon emissions during growth.
- Engineered wood is used for its strength and lightness, reducing construction costs and increasing profitability.
- Fire hazards are a concern with wooden buildings.
- Engineered timber is fireproof due to its mass and lack of small kindling-like pieces.
- The US Forest Service has given the highest fire resistance rating to the wooden skyscraper made from engineered timber.
- Timber buildings will have standard fire precautions like sprinkler systems and alarm systems.
- The city's new skyline will have a warmer and more attractive look with wooden skyscrapers.
- There is a race to build taller wooden skyscrapers, with current records being broken by buildings in Wisconsin, Ontario, and Switzerland.
- High-rise wooden buildings will be more low-rise but still appealing.
Diplomatic Activities of Saudi Arabia's Crown Prince MBS
07:39 - 15:16
- Saudi Arabia's Crown Prince MBS is engaging in diplomatic activities
- Joe Biden aims to establish formal ties between Saudi Arabia and Israel
- Normalization of relations between Saudi Arabia and Israel has security, geopolitical, and regional implications
- Saudi Arabia has demands for the United States in exchange for a deal with Israel
- Saudi demands include a stronger defense pact, expanded access to American weapons, and assistance in setting up a civilian nuclear program
- The scope of Saudi Arabia's demands may face opposition in Washington
- The UAE opened their first nuclear reactor after swearing off having a domestic enrichment capability.
- The Saudis are insistent on keeping their enrichment capability, which could raise concerns of a regional arms race.
- The Saudis do not view normalization with Israel as a way to formalize an alliance for conflict in the region.
- It is hard to predict which other Arab countries would be willing to join the Abrahamic courts.
- Biden's advisors see achieving an agreement with Saudi Arabia as a long shot.
- Public opinion and Israel's behavior make it difficult for Saudi Arabia to make a deal with them.
Political Situation in Cambodia
14:58 - 22:40
- Cambodia has been rebuilding since the genocide perpetrated by Pol Pot and the Khmer Rouge.
- Cambodia could have prosperity if it had peace, but there are concerns about Hun Sen's autocratic rule.
- Hun Sen has planned his succession and anointed his son, Hun Manet, as his successor.
- Hun Sen sees himself as the leader who has presided over the longest period of peace in Cambodia's modern history.
- Cambodia's economy has boomed, but there have been negative side effects such as environmental destruction, corruption, and crime.
- Hun Manet, Hun Sen's son, is a charismatic figure with a Western education, but skepticism remains about his potential for liberalizing Cambodia.
- Political oppression in Cambodia has been brutal and activists fear for their lives.
- Younger generations in Cambodia are discontented with corruption and inequality.
- The upcoming election is widely seen as rigged and unlikely to bring any change.