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Sunday, September 21, 2003  

Country for Sale

Economic Overhaul for Iraq : "The new policy, enacted on Saturday by U.S. administrator L. Paul Bremer, allows foreign firms to enter and potentially dominate key elements of the economy, from banking to manufacturing, that had been off-limits to outside ownership. Although the sale of businesses to foreigners could prove controversial in this fiercely nationalistic country, U.S. Treasury Secretary John W. Snow said the plan offered a 'real promise' of economic revival in Iraq, which is struggling to cope with rampant unemployment, crumbling infrastructure and unproductive state-run industries."

That didn't take long. Apparently everything is up for sale except the state run oil industry. Wow. Is it just me, or does this seem a bit premature given that the U.S. is still running the country? Shouldn't they have, like, elected officials and laws in place before they (as in the Iraqi's, not us) decide to sell off the entire country (or not?). Maybe I'm wrong, but wouldn't the American people resent it if a foreign government came in and decided to basically sell off our country to a huge assortment of non-American companies? Democracy apparently lost out to the concept of "free markets - American style."

posted by RJ | Link | 8:12 PM
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