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"Despite all the horrible things happening ... this revolution strikes me as being essentially...

"Despite all the horrible things happening ... this revolution strikes me as being essentially rather bullish," says Goldman's Jim O'Neill. "MENA (Middle East/North Africa) has the combined potential to be a BRIC-like economic group." ETFs: MES, FRN, AFK, PMNA, GAF, GULF, FFD.
Comments (2)
  • Duude
    , contributor
    Comments (3358) | Send Message
     
    "MENA (Middle East/North Africa) has the combined potential to be a BRIC-like economic group."

     

    Uh, NO! With the exception of Israel, there isn't a one that isn't anything more than a one-trick pony. Yeah, the United Arab Emirates has begun working on a model of diversifying their economy, but it remains to be seen they can become both productive and competitive. Thus far they've shown us they're willing to spend big which is needed. But middle eastern cultures and specifically the Arab culture hasn't put much emphasis on educating their populace. The very rich attend Ivy league schools but most everyone else borders on being illiterate. Besides energy, the remainder of their economies amount to family roadside stands. This does not make for a BRIC.
    28 Feb 2011, 10:37 AM Reply Like
  • Tom Au, CFA
    , contributor
    Comments (6775) | Send Message
     
    Given where O'Neil works, he might well think of all this as "doing God's work."
    28 Feb 2011, 02:50 PM Reply Like
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