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Article: Effects of Iraq War Are Mixed for Middle East States.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- April 21, 2003
CopyrightCOPYRIGHT 2003 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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By Peter J. Cooper, AME Info, Abu Dhabi, United Arab Emirates Knight Ridder/Tribune Business News
Apr. 21--Overall in the Middle East windfall profits from oil revenues will have more than offset the economic impact of trade lost due to the Iraq War and a slump in tourism in the first quarter of 2003.
Now the $100 billion reconstruction of Iraq promises a regional trade boom that may send regional economic growth rates to Chinese levels. In this scenario, far from destabilizing the region, the Iraq War will prove to be a turning point for economic reform and a boom for business.
For without punishing United Nations' economic sanctions, and ...