Tag: World

The World Economy Is in Trouble

(Bloomberg) — It’s easy to forget now but there was a time early on in the pandemic when the price of gold was in freefall.

It was a curious thing, what with the virus sparking a collapse in the global economy, and it would prove in time to be one of the great head-fakes in the recent history of financial markets. For the pandemic of 2020 would soon show itself to be the driving force behind one of the most ferocious rallies the gold market has ever seen. At the close of trading in New York on Friday, bullion had

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How Israel and the Arab World Are Making Peace Without a Peace Deal

Without much fanfare or notice, the first known commercial aircraft from the United Arab Emirates recently landed at Israel’s Ben Gurion airport. It was carrying Covid-19 supplies for the Palestinian Authority, which, out of pique, rejected them.

As unprecedented as the flight was, it really shouldn’t have come as much of a surprise. For the past five years, contacts between Israel and the Gulf states—especially Saudi Arabia, the UAE and Bahrain—have been booming. The examples of what amounts to a Great Thaw in an otherwise frozen political landscape are plentiful:

Prime Minister Benjamin Netanyahu, together with his wife and the

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Opinion | How Israel and the Arab World Are Making Peace Without a Peace Deal

Even more stunning, this putative détente is taking place on the watch of a right-wing Israeli prime minister who doesn’t even feign interest in a two-state solution and is doing everything he can to ensure one never emerges by keeping large parts of West Bank and all of Jerusalem. Contrary to the warnings from diplomats, analysts and peaceniks who predicted Israel would become a pariah if it didn’t settle up with the Palestinians, Israel seems to be making more progress toward normalization with Arab regimes without a credible peace process than with one.

Clearly the Gulf states aren’t on the

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