Sunday, September 5, 2010

Middle East Loses Trillions As U.S. Strikes Record Arms Deals

The Internet has provided the world with, if nothing else, instantaneous access to news and in-depth information previously available only to governments and think tanks. It has also allowed for the exchange of data and analyses between groups and individuals around the globe, in part by making one tongue, English, the language of the World Wide Web. It remains to be seen whether the keystroke is mightier than the sword.

An illustrative case in point is an August 29 report from China's Xinhua News Agency on a news article by Egypt's Middle East News Agency regarding a study conducted by the Strategic Foresight Group in India. The latter, a report published in a book entitled The Cost of Conflict in the Middle East, calculates that conflict in the area over the last 20 years has cost the nations and people of the region 12 trillion U.S. dollars.

The Indian report adds that the Middle East has recorded “a high record of military expenses in the past 20 years and is considered the most armed region in the world.” [1]

The study was originally released in January of 2009 and was recently translated into Arabic by the Institute for Peace Studies of Egypt. It estimates that in a peaceful environment the nations of the Middle East could have achieved an average annual growth in gross domestic product of 8 percent.

Sundeep Waslekar, president of the Strategic Foresight Group and one of the report's authors, was quoted in January of last year saying of the region's nations, “The choice they have to make is the choice between the danger of devastation and the promise of peace.” [2]

An account of the presentation of the report last year added that the cost of conflict in the region is estimated at 2 percent of growth in gross domestic product.

In regards to specific cases, it stated:

“One conclusion is that individuals in most countries are half as rich as they would have been if peace had taken off in 1991.

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