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 ....

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