World Economic Forum Examines Transformations in Arab World
Opening speaker says “people power” could unleash economic boom
By David Shelby , Washington File Staff Writer
Dead Sea, Jordan — Waves of “people power” sweeping across the Middle East and North Africa hold the potential to unleash a boom of economic development if the region’s leaders can harness the popular energy, according to the opening speaker at the World Economic Forum in Jordan.
“We have seen it in the streets of Beirut and in other places … . You have seen 1 million people in the streets of Beirut in a very civilized white revolution. They have done in two days what the governments of Lebanon have not done in 20 years,” said the National Bank of Kuwait’s Chief Executive Officer Ibrahim Dabdoub at the opening of the forum May 20.
Dabdoub said that, with modern media and communications, this movement could not be contained. “The world has become so globalized,” he said, adding that the people of upper Egypt were able to watch the Ukraine revolution live on CNN.
“I think the Middle East is going through a major transformation,” he said. “Many factors are contributing to this transformation — the increased oil revenues, the reforms, whether political or economic, that are happening here and there, the liberation of Iraq from a regime that was so harsh on its people. And I think this part of the world that has been in history on the frontier of science and education in the world, now hopefully will seize the moment and regain its importance if the leaders will take the opportunity,” Dabdoub said.