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Given the stakes, both countries need to figure out a way. Hundreds of Saudis fought alongside the Taliban against the U.S. in Afghanistan last year. More than one-third of the 350 hard-core fighters being held by the U.S. in Guantanamo Bay, Cuba, are Saudi nationals. Billions of dollars from wealthy Saudis have funded anti-American and anti-Israel terrorist groups and helped establish radical schools worldwide that foment Islamic militancy, including the madrasahs in Pakistan that produced the Taliban. Americans hardly expect that kind of treatment from their worst enemies--let alone their oldest strategic partner...

Author: /time Magazine | Title: Do We Still Need the Saudis? | 8/5/2002 | See Source »

...under 25, and the birth rate--37 births for every 1,000 people--is among the highest in the world. Because of falling oil revenues and the country's spiraling debt, per capita income has plummeted from $28,600 to $6,800 in the past 20 years. Though one-third of all Saudis are unemployed, the kingdom imports 6 million foreign workers to fill the low-wage jobs Saudis don't want. Restive and jobless young Saudis have nowhere to turn in an antidemocratic society governed by puritanical social norms: Saudi authorities ban dance clubs and movie theaters, forbid women...

Author: /time Magazine | Title: Do We Still Need the Saudis? | 8/5/2002 | See Source »

...their exposure to Brazil. Over the past 10 years, Spanish firms have poured more than €50 billion in Brazil - double the amount invested in Argentina - particularly across the telecom, banking and energy sectors. But the Brazilian real has gone into a downward spiral - the currency has lost one-third of its value since April - and taken some Iberian earnings along for the ride. Last month, Spanish giant Telefónica cited currency woes as a reason for its reported 23% fall in Latin American revenues in the first half of 2002. Last week SCH, Spain's largest bank, registered...

Author: /time Magazine | Title: Earnings | 8/4/2002 | See Source »

...under 25, and the birth rate-37 births for every 1,000 people-is among the highest in the world. Because of falling oil revenues and the country's spiraling debt, per capita income has plummeted from $28,600 to $6,800 in the past 20 years. Though one-third of all Saudis are unemployed, the kingdom imports 6 million foreign workers to fill the low-wage jobs Saudis don't want. Restive and jobless young Saudis have nowhere to turn in an antidemocratic society governed by puritanical social norms: Saudi authorities ban dance clubs and movie theaters, forbid women...

Author: /time Magazine | Title: Do We Still Need the Saudis? | 7/28/2002 | See Source »

...Given the stakes, both countries need to figure out a way. Hundreds of Saudis fought alongside the Taliban against the U.S. in Afghanistan last year. More than one-third of the 350 hard-core fighters being held by the U.S. in Guantanamo Bay, Cuba, are Saudi nationals. Billions of dollars from wealthy Saudis have funded anti-American and anti-Israel terrorist groups and helped establish radical schools worldwide that foment Islamic militancy, including the madrasahs in Pakistan that produced the Taliban. Americans hardly expect that kind of treatment from their worst enemies-let alone their oldest strategic partner...

Author: /time Magazine | Title: Do We Still Need the Saudis? | 7/28/2002 | See Source »

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