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Politics : Stockman Scott's Political Debate Porch -- Ignore unavailable to you. Want to Upgrade?

To: Wharf Rat who wrote (44200)	4/29/2004 11:16:59 AM
From: Wharf Rat	Respond to of 89467

Murdoch warns of Saudi Arabia flashpoint From AAP April 28, 2004 LOS ANGELES: Rupert Murdoch warned yesterday of the global economic chaos that could result from a change of regime in Saudi Arabia, and said the lack of Muslim integration in Europe increased the likelihood of further terror attacks there. "I think the most outstanding thing to worry about, if we are talking about urgency, is in the Middle East and it is with Saudi Arabia," said Mr Murdoch, speaking at the Milken Institute's annual three-day Global Conference in Los Angeles. "Saudi Arabia is really the swing. "If there was a revolution there it would happen overnight and you might see oil go from $US40 ($54) to $US80 or $US90 (a barrel) and that wouldn't simply affect us. It would bring China and Japan and all those countries into a pretty terrible state." Mr Murdoch, chairman and chief executive of News Corp, parent company of News Ltd, which publishes The Australian, shared the stage with a high-powered group – Gary Becker, Nobel laureate in economic sciences; Thomas Hughes, Deutsche Bank's global head of asset management; Sharon Allen, chairman of Deloitte's US board of directors; and Jami Miscik, the Central Intelligence Agency's deputy director of intelligence. The topic of discussion was Creating Prosperity and Stability Amid Ever-Accelerating Change. Mr Murdoch believes Europe, particularly France, has failed to properly assimilate large Muslim immigrant populations from northern Africa and the Middle East. The situation made Europe more susceptible to another terrorist attack than the US, he said, predicting "real trouble coming in Europe". "The Muslim populations in France and Germany are much bigger proportionately to what they are in this country (the US) and they have made a very bad job of assimilating them," Mr Murdoch said. The US had done a "pretty good job of assimilating" its Muslim population, and had only "pockets of trouble here and there", he said. "They (Europe) have major centres of problems that are just boiling up. "Paris is surrounded by vast blocks of tens of thousands of apartments – all Muslim, all no-go areas for police and totally lawless. "There is more danger of terrorists attacks coming than what we have here." Analysing China, Mr Murdoch said "the worries that I see that we don't know are the danger of Chinese continuity". "I operate a business there. "We see all of this wonderful expansion around us, but the fact is it is still a centrally planned economy and, historically, centrally planned economies, particularly of that size, do become unmanageable. "I'm not pessimistic about it. I think they do a pretty brilliant job, but we have to face the facts it is one of the uncertainties. I'm optimistic, at least in the short term, hopefully in the long term, about the Chinese economy." theaustralian.news.com.au