Picking Up the Pieces

Arabs and Israelis both realize they would rather make money than war

The scene was novel -- and euphoric: Israel's Foreign Minister Shimon Peres sitting at a table near the Dead Sea on the Jordanian side of the border last week across from his counterpart from Amman, Prime Minister Abdul Salam Majali. Meeting for the first time publicly on Jordanian territory, the two men started talking about taking practical steps that would all but end the state of war that has existed between their two countries since 1948.

Their talk was about peace and, just as important, about prosperity. Diplomats are discovering that in ending the estrangement between Arabs and Israelis, money must...

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