Backlash of Pearl Uprising Damaged Economy of Bahrain – Find Cause and Solution
Bloody Thursday is a significant day for Bahrain as Shia rebels and protestors were leveled with the ground at the Pearl Roundabout way back to 2011.
Shia rebels want separate sovereign state ending the regime of Hamad bin Isa Al Khalifa who led this barbaric mission to wipe out dissidents so mercilessly. The strong uprising in Bahrain took place and the whole political scenario in this country had the dramatic change.
King Hamad announced the martial law with month old military regime to control these rebels. The Pearl Uprising in Bahrain was the vehicle for people to fight for social, political and economic freedom with more sovereignty to live independently without being subjected to the king Hamad. Due to the uprising in this country, people have had the experience of recession in economy with limited opportunity to have good jobs. The industry in Bahrain has been affected as well.
Bahrain Brought Changes in Economy by Reducing Oil Dependency But Not Much Successful
Bahrain discovered hidden oil fields to refine. More employees were hired to unearth such embedded oil reserves to collect crude oil and gas.
However, this Gulf country expanded its business for better economic growth. It established the large scale Aluminum smelting factories. Instead of spending money for expanding oil and gas, Bahrain was also planning to prioritize the financial sectors including national banks. This diversification in the economy was very fruitful as Bahrain emulated Oman to reduce the oil dependency and concentrate on other sectors.
However despite the mutual co-operation and friendship grown among GCC nations, Bahrain and Omen failed to produce much crude gas.
When Saudi Arabia and Qatar are good exporters to sell oil and gas, Bahrain depends on even Russia and Iran for importing gasoline products.
So, gradually, Saudi Arabia and Dubai stepped into the domestic life to influence the king of Bahrain to take decision. The royal family in Bahrain has to accept Saudi Arabia because of getting good financial backup and advantages from Riyadh. The economy of Saudi Arabia is much larger and more powerful than that of Bahrain. Riyadh holds over $815 billion GDP whereas Bahrain has to be satisfied with around 30 to 32 billion dollars worth GDP.
So, Bahrain is weaker with less powerful economy comparing to the national economic infrastructure of Riyadh.
Pearl Uprising Created Tension - It Hampered Economic Growth in Bahrain
Pearluprising in Bahrain in 2011weakenedthe nationaleconomy as the countryhad toborrow lotofmoney from Saudi Arabia. Major GCC nations allotted or sanctioned around $10 billion for economic renovation. This uprising dampened the social status and prestige of Bahrain. Saudi Arabia tries to be more dominant over Bahrain.
Political impasse and unrest caused such a recession in the economy of Bahrain. It was seen that subsidies and financial stimulus were given to sycophants. They were politically motivated or influenced. This bootlicking or sycophancy became severe in hampering the harmonious growth of the national economy in Bahrain.
Corruptions even touched the royal family members. Sunni protestors condemned the government for its debacle to reduce the crime and corruption in the society. In addition, the sudden downward slide in the prices of crude oil jolted the miniature economic portal of Bahrain. It is a small crude oil exporter and it has poor GDP growth rate comparatively. The political disturbance and the onset of uprising in 2011 have crippled the government of Bahrain with poor credit scores.
Due to internal political infighting with previous backlash of Pearl Uprising in 2011, Bahrain has not recovered its GDP rate though it has brought new avenues for business expansion taking switchover from oil fields to financial sectors.
King’s decision to cut the over expenditure to make up the gap disheartened elected MPs of the parliament. This is the possible solution to control the crisis. However, resentment slowly took the shape of furious remonstration and violence against the leading government of Bahrain. Members of opposition party in Bahrain criticized the tendency of nepotism in the case of prioritization of selected members of the elected candidates to have more subsidies as well as facilities from the government. This must be stopped boldly. To minimize the economic crisis, there are some changes approved by the king of Bahrain. In a Cabinet reshuffle, Hassan Fakhro, commerce minister was superseded by Zayed al-Zayani. Isa Abdulrahman took the place of Sameera to prevent the corruption.
It is not an overnight job to upgrade the whole economic infrastructure reducing all political unrest, infighting and corruption through the cabinet reshuffling. However, initiatives are taken in favor of people of Bahrain to turbo-charge the economy of this gulf nation. The king and his associates in Bahrain have still some gruesome problems like disturbance in Shia controlled regions and Sunni communities. Political imbroglio and corruption inside the country must be steered cleared of by this newly reshuffled cabinet to dish out compact governance to people of Bahrain.