Two men walk around the corner of a property wall and towards a roundabout, on 20th March 1968, in Kuwait, Persian Gulf. The period of 1946-82 is often termed "the golden period of Kuwait" by western academics. In the 1960s and 1970s, Kuwait was considered by some as the most developed country in the region. Kuwait was the pioneer in the Middle East in diversifying its earnings away from oil exports. The Kuwait Investment Authority is the world's first sovereign wealth fund. From the 1970s onward, Kuwait scored highest of all Arab countries on the Human Development Index.
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