The Arab Economies in a Changing World
By Marcus Noland, Devin T. Stewart | Peter G. Peterson Institute for International Economics | April 16, 2007
Trade agreements are one tool to spur development in the region, but they are not a substitute for internal reforms where microeconomic barriers often discourage entrepreneurs. With the U.S. reputation in tatters in the region, multilateral channels become a more appealing means of engagement. The hope for the region's peoples is to avoid a downward spiral of political repression, instability and deterred investment, slow growth and rising unemployment, resulting in social tension and more repression.
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