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Politics : Politics for Pros- moderated

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To: LindyBill who started this subject	9/21/2003 8:57:32 PM
From: Dayuhan	Read Replies (3) of 793689

story.news.yahoo.com This item struck me: Iraq also unveiled a new plan to open all sectors of the economy to foreign investment — except oil — to revive an economy shattered by years of armed conflict, mismanagement and international sanctions. I wonder who actually did the unveiling? When they say "Iraq unveiled...", are they trying to suggest that an independent Iraqi government exists? Immediate opening of "all sectors of the economy" to foreign investment seems questionable to me. Given the absence of domestic capital, this may lead to an Iraq where returning exiles and foreign investors push Iraqis into a marginal role in the economy. That, in turn, would provide an easy lever for factions hostile to democracy and free markets. I'd rather go gradually, and make sure that native Iraqis have credit on easy enough terms to compete with outsiders. Free capital flows are a laudable long-term goal, but the straight road isn't always the best way to get there.

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