Arabian Peninsula

Arabia cannot develop its industry because it lacks water and cannot produce food and create a minimum agricultural base.
An industrial country can import most of the food it consumes, such as England a century ago (* XIX), or Singapore and Hong Kong today, but it cannot lack drinking water. This is a much more extreme situation yet. Thus, we find a closed economic cycle, even if the basic conditions for this are met.
In reality, it is the tragedy of many important mining centres, emerged in remote places, lacking almost everything and that could not develop the entire economic cycle.
The mere accumulation of capital generated by the exploitation of oil fields is not enough to develop the entire production cycle. Precisely this factor is missing: water, without which there can be no industries, neither large cities develop, nor large quantities of food are harvested.
Then there is the paradoxical and, in some way, dangerous situation, that these large capitals, which are there, have to be used somewhere, and this is done in industrialized countries, which have managed to develop the entire cycle of production. Therefore, these capitals serve mainly those countries, in which they produce.