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Shafaq News/ A Russian economic analyst warned, on Thursday, that only large countries and stable economies would survive a global economic crisis, noting that Iraq would have escaped from it had it not been for the war that destroyed its economy.
The Russian RT station quoted Russian political analyst Alexander Nazarov as saying that the world is approaching the height of a global economic crisis, and only large economies and countries will survive.
He added that the repercussions of this crisis on the Arab countries will be uneven, but that Algeria has the best chance in everything, and to preserve its independence and its own currency, it has a large gold reserve, and a fairly balanced economy.
He noted that Saudi Arabia has a problem with food independence, and its oil is too important for the United States or China to leave out of their control.
"Theoretically, Iraq and Syria could have had good chances, but the war destroyed them," Nazarov added.
And he added, "As for Egypt, given the size of its economy, it may have an opportunity, but its problems are no less than their weight in the Arab world."
Nazarov concluded that Algeria has the best chance, and the rest of the Arab countries have little chances of maintaining their currencies without linking to stronger currencies and remaining independent players on the world stage.
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The war missed the opportunity for Iraq... an economic crisis that threatens the world. Who will survive it?
Shafaq News/ A Russian economic analyst warned, on Thursday, that only large countries and stable economies would survive a global economic crisis, noting that Iraq would have escaped from it had it not been for the war that destroyed its economy.
The Russian RT station quoted Russian political analyst Alexander Nazarov as saying that the world is approaching the height of a global economic crisis, and only large economies and countries will survive.
He added that the repercussions of this crisis on the Arab countries will be uneven, but that Algeria has the best chance in everything, and to preserve its independence and its own currency, it has a large gold reserve, and a fairly balanced economy.
He noted that Saudi Arabia has a problem with food independence, and its oil is too important for the United States or China to leave out of their control.
"Theoretically, Iraq and Syria could have had good chances, but the war destroyed them," Nazarov added.
And he added, "As for Egypt, given the size of its economy, it may have an opportunity, but its problems are no less than their weight in the Arab world."
Nazarov concluded that Algeria has the best chance, and the rest of the Arab countries have little chances of maintaining their currencies without linking to stronger currencies and remaining independent players on the world stage.
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