Is there life after oil?

In light of a record labor force growth in parts of the Middle East, some question the ability of Arab countries to accommodate this demographic bulge and create enough jobs for the population.

Haward Pack and Marcus Noland – the authors of "The Arab Economies in a Changing World" - argue that relying oil hefty revenues alone won't solve the problem.

Becoming more globally competitive is the way for the future, they say, but it won't be easy given China's established dominance in the manufacturing and India's in the services industry and the region's overall difficult business climate.