The most important financial flow in the global economyTwo weeks ago, I attended an international conference on foreign investment in the MENA (Middle East and North Africa) region held at a Dead Sea resort in Jordan, and it was an eye-opener. All the presentations and personal networking emphasized to this national security expert-cum-senior managing director just how minor a role our military will play in bringing lasting stability to the region.
Foreign direct investment, or FDI, is the most important flow in the global economy, because it's "sticky" money that invests in real things: companies, infrastructure, real estate, etc. When you invest directly in an economy, you plan to stay for a while, and that says to other potential investors: "I feel safe here. The rules are solid and clear. I can assess risk intelligently and hedge against it." In that sense, FDI is the gift that keeps on giving -- a seal of approval attracting more of the same.
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Comments (9)
Had to alert you to the following insight on global strategy. Though I consider myself a Protestant, and confess some bias on the whole "infallibility of the Pope" concept, I sure can relate to the part about none of our leaders comprehend that we are "fighting a religion."
BOOK REVIEW
The inside story of the Western mind
Twentieth-Century Catholic Theologians by Fergus Kerr
Excerpt from Review by Spengler:
“America's ‘war on terror’ proceeds from a political philosophy that treats radical Islam as if it were a political movement – ‘Islamo-fascism’ - rather than a truly religious response to the West. If we are in a fourth world war, as Norman Podhoretz proclaims, it is a religious war. The West is not fighting individual criminals, as the left insists; it is not fighting a Soviet-style state, as the Iraqi disaster makes clear; nor is it fighting a political movement. It is fighting a religion, specifically a religion that arose in enraged reaction to the West.
None of the political leaders of the West, and few of the West's opinion leaders, comprehend this. We are left with the anomaly that the only effective leader of the West is a man wholly averse to war, a pope who took his name from the Benedict who interceded for peace during World War I. Benedict XVI, alone among the leaders of the Christian world, challenges Islam as a religion, as he did in his September 2006 Regensburg address.”
For full review, click on: http://www.atimes.com/atimes/Front_Page/IK06Aa01.html
Posted by Dick Hanson | February 24, 2008 9:44 AM
If we are fighting against a religion, then why are our best tools jobs and investment? Our battle is not against Islam or Muslims. What our Muslim brothers need is not conversion to a different infallible or univoiced religion, but peace, jobs, some control over the fire hose of content flooding their communities and a chance to compete. In this, they are much like religious people in America.
I have no problems with anyone preaching Islam or Christianity, fundamental or not. As Dr. Barnett has said, fundamentalism spreads when times are hard and things seem out of control.
This "war" will not be solved by kinetics or by religious conversions, both of which can make things worse if pursued in isolation. As for Benedict, he should focus more on challenging Catholics and Christians to live up their their faith. In doing so, they can be a light to the world, but in failing to do so, they are a scandal. The Easter season would be a good time to be aware of our failings and not see just those of others.
Posted by hof | February 24, 2008 9:42 PM
hof: we are fighting a religion in the sense of an ideology. we are not fighting Islam as a whole but the fundamentalist version of it, specifically Wahabi Salafi jihadism. jobs and investments are some of our best tools because they show affected Muslims that there is a life outside of martyrdom, a life that can include Islamic faith.
we are fighting radical Islam in the same way we're fighting against any ideologies that want to disconnect people from the world more than they want to connect them.
i don't think anyone here is calling for conversion from Islam to Christianity. you're right: neither kinetics nor conversions are the answer in that regard.
Posted by Sean Meade
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February 25, 2008 7:37 AM
Thank you, Sean. You got the part that disturbs me, and kinetics and conversions miss the point. Too much "conventional rationalization" that's in denial of the religious aspect of this enemy. It's like glossing over a crucial element maybe because it feels politically incorrect? What is the role of the ayatollahs/mullahs/clerics who are perverting young minds? It's not just the high profile bin Ladins.
Posted by Dick Hanson | February 25, 2008 1:29 PM
I think it is not just a mistake but tragic if the West (Christendom) views the events of the last century and this one so far as being the rise of an integrated religion know as Islam. I am not expert on Islam or any religion but Islam is clearly one that has since its inception organized itself into sects and continuously fragments even further. Perhaps no Pope explains it for Islam. None-the-less it really needs careful analysis to determine how the events of this century are impacting, modifying, reforming (?) the thinking of the various sects that constitute Islam. The "mind" of Islam under close scrutiney may reflect multiple personality disorder or some other psychological concept! The rise and influence on any and all religions of charismatics (sic) should be closely followed to determine short and long range impacts. Religions are mostly not unified in their theology or even much else.
Posted by William R. Cumming | February 26, 2008 2:01 AM
i am very used to looking at Christian sects/denominations as distinct, and not one monolithic Christianity. i guess that makes me consider other religions the same way, at least potentially.
Posted by Sean Meade
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February 26, 2008 9:16 AM
It may be multiple sects and multiple personality disorders, but that's not much comfort when there appears to be so much widespread oppression and intolerance, and thousands riot in the streets, killing each other, triggered by some Danish cartoons!? That's more than "disconnectedness." It's taught.
Posted by Dick Hanson | February 26, 2008 12:41 PM
i hear you, Dick. no argument that the disconnectedness is taught.
but here's some comfort: according to this map, there are 1.5 billion Muslims in the world, and most of them are not oppressive and intolerant.
Posted by Sean Meade
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February 26, 2008 2:14 PM
Anyway to hang a number (%) on "most of them are not?" 51%? 70%? 90%? It makes a BIG difference!
Posted by Dick Hanson | February 26, 2008 4:02 PM