Saudi King Salman ousts nephew as Crown Prince, installs son

As next in line to the throne, Prince Mohammed bin Salman could become a rarity: A young Saudi king. A long list of predecessors have taken power as septuagenarians or octogenarians, allowing limited time to see through their visions for the kingdom’s future.

“The benefit now is that we have young leader who has the authority to…plan not 10 years in advance but 40 years in advance and insure there is institutional continuity going forward,” said Mohammed Alyahya, a nonresident fellow at the Atlantic Council, a Washington-based think tank…

In the past two years, Prince Mohammed bin Salman has been the public face of change in the kingdom. He has introduced austerity measures—some of which were reversed later—to help reduce a budget deficit caused by the drop in oil prices. He has also backed the potential listing next year of state oil giant Saudi Aramco, in part to push the economy onto a path of privatization and greater competitiveness needed to generate jobs for the young and attract foreign investment beyond the oil sector.