Foxfyre wrote:Back to that port problem that cropped up last week. Those five ports are currently owned by the British who now presume to sell them to the Arab group who are listed as our allies.
How can we best dodge this bullet without being accused of racism and all sorts of other uglies?
Right on.
So, what do we know about the Emirates? The CIA World Factbook has this to say about the UAE:
Quote:Background:
The Trucial States of the Persian Gulf coast granted the UK control of their defense and foreign affairs in 19th century treaties. In 1971, six of these states - Abu Zaby, 'Ajman, Al Fujayrah, Ash Shariqah, Dubayy, and Umm al Qaywayn - merged to form the United Arab Emirates (UAE). They were joined in 1972 by Ra's al Khaymah. The UAE's per capita GDP is on par with those of leading West European nations. Its generosity with oil revenues and its moderate foreign policy stance have allowed the UAE to play a vital role in the affairs of the region.
and, about the economy:
Quote:The UAE has an open economy with a high per capita income and a sizable annual trade surplus. Its wealth is based on oil and gas output (about 30% of GDP), and the fortunes of the economy fluctuate with the prices of those commodities. Since the discovery of oil in the UAE more than 30 years ago, the UAE has undergone a profound transformation from an impoverished region of small desert principalities to a modern state with a high standard of living. At present levels of production, oil and gas reserves should last for more than 100 years. The government has increased spending on job creation and infrastructure expansion and is opening up its utilities to greater private sector involvement. Higher oil revenue, strong liquidity, and cheap credit in 2005 led to a surge in asset prices (shares and real estate) and consumer inflation. Any sharp correction to the UAE's equity markets could damage investor and consumer sentiment and affect bank asset quality. In April 2004, the UAE signed a Trade and Investment Framework Agreement (TIFA) with Washington and in November 2004 agreed to undertake negotiations toward a Free Trade Agreement (FTA) with the US.
I find the last sentence very interesting. So the USA and the UAE have signed a TIFA are negotiating a Free Trade Agreement. I suppose that would allow American companies to invest in the UAE. Furthermore, in 2004, the USA were the UAE's seventh most-important imports-partner, accounting for 6 percent of the imports or US$ 3.6 billion.
<hoping the post was on-topic enough not to be considered spam>
Hilarious But you all stop this fighting and get on with talking about the aftermath.
sorry. Didn't notice that (my only weak excuse: I wasn't online for a week).