The Arab World: Facing the Challenge of the New Millenium by Henry T. Azzam

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Synopsis

Citing the examples of Costa Rica, Ireland, and Singapore as instructive, Azzam (the CEO of a Jordanian investment bank) argues that the Arab countries have to engage in reform of their economies in order to improve their economic performances. He offers economic overviews of the Arab countries and presents arguments for adopting the globalization model being adopted in many other parts of the world. Distributed by Palgrave. Annotation (c)2003 Book News, Inc., Portland, OR

Foreign Affairs

This work is a book to consult, not to read. Azzam, economist and head of the regional bank Jordinvest, has pulled together numerous studies of economic indicators to produce a useful handbook. It treats first the entire Arab world as a unit and then turns to succinct individual country studies. Emphasis is placed on subjects not usually covered in standard statistical sources, such as Arab bond and stock markets and the role of Arab banks and Arab currencies. Although Azzam sticks to his economic and financial data, he offers some refreshing conclusions. Among them: Arabs must join, not resist, globalization; defense expenditures must be cut; the cycle that produces extremists, religious antimodernists, political suppression, and obsolete educational systems must end — and a negotiated settlement between Israel and the Palestinians must be reached sooner, not later.

Biography

Henry T. Azzam is CEO of Jordinvest, the regional investment bank in Jordan.