US Exports to Arab World: Missiles replaced Merchandise

Arab Import Market Growth and Declining US Share
Arab Import Market Growth and Declining US Share

According to Robert Fisk at The Independent, Arab states are quietly ditching the US dollar in their energy trade. The gradual reduction of dollar reserves could have a devastating effect on the value of the dollar and ability of the US Treasury to finance the national debt.

While the price of gold is rocketing skyward the Israel lobby is no doubt quietly celebrating. Over the past decade, a multi-tiered strategy aimed at getting Americans to see the Middle East as a battlefield rather than a marketplace has slowly unfurled—with devastating results.

The subtle racism inherent in such sloganeering as “reducing our dependence on foreign oil” has an unwelcome counterpart—Arabs reducing their demand for American consumer and industrial goods.   AIPAC sponsored legislation such as the Syria Accountability Act, the perennial Saudi Accountability Act (urged and funded by such financial geniuses as Hank Greenberg of AIG) as well as the Dubai Ports debacle and tag team efforts by the US Treasury and New York DA have finally accomplished their long term objective: an Israel centric Middle East trade policy that alienates valuable partners and locks American exporters out of market driven demand in exchange for captive taxpayer funded US military requisitions.

AIPAC’s drive—beginning with the corrupted US-Israel Free Trade Area—steadily reduced the US share of the booming 22 country Arab League import market from 12.77% in 1997 to a mere 8.55% in 2008. What should be a natural trading partner for energy hungry America is instead a desert—though not for competitors.  Arab import demand quadrupled from $158 billion in 1997 to $608 billion last year.

5 thoughts on “US Exports to Arab World: Missiles replaced Merchandise”

  1. Can we please have a global gathering on racism where I am the keynote speaker? If people don’t stop blathering about racism I’m going to lose my no patience in an apocalyptic way!

    We do not stop the us vs. them or the clean vs. the dirty with this claptrap about racism. It’s all about greed, greed for money, for status, for power, for whatever. You don’t solve that by whining harder about “racism”… subtle or overt. You have to get to the heart of it and cut it out.

    America is an equal opportunity oppressor. We do not give a fig what race you are if you stand between us and what we want. PERIOD.

    And Arabs have no choice but to lower their demand for American consumer and industrial goods, BECAUSE AMERICA HAS OUTSOURCED ALL MOST ALL OF THOSE ALREADY.

    AIPAC is no doubt very happy about this because when all the SCO and allied countries drop their dollar reserves, they will then be in control of the ME… will they not?

    1. I hereby nominate you to keynote on global racism.

      The “reduce our dependence on foreign oil” may have elements of greed, power etc. But it is undeniable that there is a core element of racism. Behind it are assumptions that the peoples producer states are evil and should be denied benefits financed by their natural resources. Many go much further and promote “reducing our dependence on foreign oil” as an anti-terror strategy. Buying oil in this mindset, finances terrorism.

      I highly recommend to you Dr. Jack Shaheen’s “Reel Bad Arabs” which catalogs decades of anti-Arab propaganda in the United States that make all manner of verbal and ground campaigns against the region easier to sell.

      America has not “outsourced” almost all industry already. Ford and GM products were once the most highly prized vehicles in the region. They’ve lost it because the US policy has been making it too hard to trade and too easy to bomb. Their collapse can be directly attributed to flawed policy, government as well as business.

      1. Thank you!

        I will be able to stand up before the world and state that, far from denying racism, getting the hell past it involves modulating the impulse to assume entitlement to whatever it is one covets… classically, merely the sense of being better than someone, but also to facilitate takings. Pointing to racism to explain that is as ultimately useful as pointing to, say, their cooking. I’m saying that our wish that mentioning racism, or flatly accusing people of racism, on top of being beside the point, is really just wishing that guilting avaricious fucks into behaving themselves like civilized beings… and has been used for a very long time, to NO effect.

        I’m deeply serious about at least curtailing that. So I hope they take your nomination of me seriously.

      2. Ooops…

        behaving themselves like civilized beings will work… and has been used for a very long time, to NO effect.

        Sorry. Shouldn’t try to comment so close to bedtime….

  2. The biggest mistake being made by Fisk is suggesting that the currency of transaction in oil sales is relevant to what the reserve composition is in those nations. Remittances can be and are converted into whatever currencies those nations choose to hold, in other words it is their choice of investment, not the currency that they are paid in, that matters.

    Fisk’s theatrics aside, the dollar is threatened not by a “cabal” of oil exporters but by the US financial industry’s criminality.

    Mike Whitney has a much better analysis:

    Dollar Hysteria
    Is the Sky Really Falling?

    The entire hoopla about the Iranian oil bourse was also really just another way to paint Iran as a threat:

    Is the Left Promoting War on Iran?
    By Bob Finch (includes excerpt by PCR)

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