Deserts, Dollars, and Delusions: The Collapse of Kuwait's Souk Al-Manakh Bubble
When Kuwait was (briefly) the 3rd biggest stock market in the world. -
The Souk Al-Manakh bubble occurred during a formative period in Kuwait's history. The nation had gone from a regional backwater to a wealthy oil power in just a few decades.
This massive influx of wealth led to significant cultural and economic changes in Kuwaiti society.
It also led to one of the greatest stock market booms and busts in history.
The Backd…
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