By James McKee
Those nations in attendance of the G8 Summit this year in France are slated to discuss the recently formed democracies in Tunisia and Egypt. They are expected to commend these newly formed government and discuss ways in which they can proactively nurture them. This is great news for these nations and should encourage other Arab nations in the region to follow suit in due time. Such a change in the Arab region would be a great thing for the USD on the online forex exchange. The world economy in general will see a lot of positive ascension where the Middle East is concerned due to a cooperative group of nations. Historically the Middle East has opposed the West, and now that there are some cooperative democracies in place there is the chance for progress.
There is still a long way to go where this road is concerned however; there are a lot of people who oppose Middle Eastern cooperation with the west within these nations. The democracies being formed in these countries may choose not to do business with the West and are perfectly within their rights to not do so. The involvement of the IMF is meant to encourage these groups to cooperate with Western interests and participate in the world’s economy. There is a lot of chance for the Middle East to once again come to the bargaining table and profit alongside the West. The increased export in oil from this region would do a great deal to boost Western economies and their currencies.
As the world’s economic powerhouses come together to assess how to address the newly formed Arab governments, many people are left wondering what they will mean to the world’s economy in the long run. Will a new trust and dependence on these nations really bring about a positive change or will there be little to no change whatsoever? The truth is that no one really knows but whatever steps are taken by Western countries to assist those in the Middle East must be made with care. Any misstep could result in serious economic and political fallout for everyone involved. The old regimes in place were actually quite friendly to large corporations that were profit driven, the new governments formed are supposedly in staunch opposition of the “profit at any cost” model and are not likely to be cooperative with many corporations that approach them.
About the Author
Author is a Forex trader and financial analyst residing in Denver, Colorado. To stay up to date on all the latest developments in the financial world and beyond be sure to check out the online forex trading regularly.
