diversify

Saudi has spent about £5bn in sport since 2021 - saying the investment is being used to diversify the economy away from a dependency on oil.

On the other hand, Carney also hinted at wanting to diversify trade towards "more reliable" partners, which would include the UK and EU.

He has promised major investments in housing and clean energy projects, and to liberalise trade within Canada, where barriers remain between provinces, and to diversify trade away form the US.

Some countries maintain strategic reserves of national assets to diversify government holdings and hedge against financial risk.

Saudi Arabia has spent about £5bn in sport since 2021, saying the investment is being used to diversify its economy away from a dependency on oil.