Saudi crown prince Mohammed bin Salman had believed conference-room babble on a multipolar world, imagining the kingdom’s wealth would compel the great powers to court it.
To understand what’s happening, a good place to start is market psychology & the fascination with using a triple-digit price level as benchmark for success or failure, writes Javier Blas.
Move effectively doubles last year’s 10 percent cut to the 800-odd general and flag officer positions; targets ‘redundant force structure’ and refocus on frontline soldiers.
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