Highlights from article on economic decline in the Middle East
Excerpts from an article on the Doha Round, titled "With or Without Doha" by Charlene Barshefsky, reveal how the Middle East, "once the center of international commerce and intellectual 'globalization' now resembles a miniature version of the closed and fragmented world economy of the 1930s" (quoted from the article)
- Middle East share of global trade and investments dropped by around 75% between 1979 and 2000.
- (it) heavily if not only depends on oil for cash unlike Latin America and Southeast Asia move towards agricultural products and goods that created more jobs for its people.
- Middle East countries barely trade with one another
- per capita income dropped from $2300 to $1500 between 1980 and 2000
- Western trade regimes lack interest in the Middle East market, opening up its land for imports from African and Latin American countries but not the Middle East countries.
- Middle East share of global trade and investments dropped by around 75% between 1979 and 2000.
- (it) heavily if not only depends on oil for cash unlike Latin America and Southeast Asia move towards agricultural products and goods that created more jobs for its people.
- Middle East countries barely trade with one another
- per capita income dropped from $2300 to $1500 between 1980 and 2000
- Western trade regimes lack interest in the Middle East market, opening up its land for imports from African and Latin American countries but not the Middle East countries.
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