Schumpeter: Beware of sandstorms

by / Thursday, 18 June 2015 / Published in Economy

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My big fat Greek divorce

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The Middle East is a reminder to business of globalisation’s limits

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APOSTLES of globalisation have a habit of disregarding the Middle East. Antoine van Agtmael, the man who coined the term “emerging markets”, barely mentions the Arab countries in his 2007 book, “The Emerging Markets Century”. This is understandable. The region has an extraordinary talent for disappointing. Emerging markets are supposed to produce enough opportunities to justify the headaches. In the Middle East the headaches are often overpowering.
The region certainly has opportunities. Its ample supplies of oil and gas make it highly attractive for basic industries such as petrochemicals and aluminium smelting. Governments, in the Gulf especially, are making efforts to attract foreign firms, as part of a drive to diversify their economies. The Gulf states are striving to improve their positions in …<div class="og_rss_groups"></div>
Source: The Economy