MIDDLE EAST: The Money's Worth

In the past ten years, the West has poured $3.8 billion in public and private investments into the Middle East—the largest single chunk of cash the region had ever seen.* What has it bought for the area?

"Very little general benefit," concludes Hedley V. Cooke, a veteran of the U.S. consular service in Turkey and Palestine, writing in the current Middle Eastern A/fairs. "Large foreign investments have not yet stimulated any cooperative economic planning for the good of the entire region.

The main international river systems . . . are still controlled on a piecemeal basis. Proposals for more integration ....

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!