To add to LP's effort to put this in a larger perspective:
mazin--Qatar's currency is pegged to the dollar, it is a single-product economy, it has virtually no military to protect itself, internal debts owed by its citizens are massive, and it is ruled by a handful of people. These things make it one of the most vulnerable economies in the world. Nauru used to be the wealthiest country per capita too. Look at it now.
flor--Crisis is a relative term. The economy is growing and corporate profits are at the highest point in two decades. The wealthy have seen their aggregate wealth grow by 18%. The crisis is for the laboring and middle classes, who have lost their jobs in the economic transition.
To add to LP's effort to put this in a larger perspective:
mazin--Qatar's currency is pegged to the dollar, it is a single-product economy, it has virtually no military to protect itself, internal debts owed by its citizens are massive, and it is ruled by a handful of people. These things make it one of the most vulnerable economies in the world. Nauru used to be the wealthiest country per capita too. Look at it now.
flor--Crisis is a relative term. The economy is growing and corporate profits are at the highest point in two decades. The wealthy have seen their aggregate wealth grow by 18%. The crisis is for the laboring and middle classes, who have lost their jobs in the economic transition.