Lebanese have to set xenophobia aside as they struggle to contain Syrian refugees



Lebanese have to set xenophobia aside as their country struggles to contain Syrian refugees
The issue of Palestinian refugees in Lebanon looks practically insignificant today compared to the ballooning problem of Syrian refugees who have been streaming into the country over the past two years to flee the civil war, wrote Hussam Itani, a contributor to the London-based newspaper Al Hayat, in an opinion article yesterday.
International relief organisations estimate the number of Syrian refugees in Lebanon to be 740,000, more than half of whom are children, the author said. However, figures collected by official Lebanese organisations say that the actual number of refugees is more than double the international estimate, given that many refugees do not register with refugee organisations, either because they have family in Lebanon or are staying for limited periods of time, he noted.
"In other words, the number of refugees now is close to half the number of the Lebanese population itself, in a country that is inching ever closer to becoming a failed state, whose apparatuses are collapsing one after the other amid general indifference."
Unfairly, some Lebanese factions have now come to blame Syrian refugees for Lebanon's political, economic and security woes - woes that have, in fact, predated the Syrian uprising.
"Some major forces in Lebanon have developed explicit xenophobia around this issue, among other attitudes. These forces, including the Free Patriotic Movement (FPM), are in complete denial . Their hollow, chauvinistic discourse can be clearly observed in their insistence on preventing the establishment of camps for the refugees and on night curfews in the villages under the FPM's control."
The argument behind this xenophobic attitude is that the refugees "threaten the Christian presence" in Lebanon and with it the country's stability, Itani wrote. Never mind that Lebanon was on the brink of a sectarian war long before the Syrian crisis, he added.
To put it bluntly, Syrian refugees today are "suffering from the racism and the sectarianism of the Lebanese, who exploit the plight of the refugees to achieve some gains and exorcise their pathologies and hang-ups," he argued.
"The Lebanese are subjecting the Syrians today to what they made the Palestinian refugees go through before, and what they have Asian and African workers go through today. But, more tellingly, they have also done it to one another. For sectarian racism is an entrenched tradition in Lebanese society and is the basis for the majority of interactions between Lebanese people."
This established racism, which is not a Lebanese speciality and can be found everywhere in the Arab world, has to be uprooted before solutions can be found to the far greater problems that plague the Arab world, the author concluded.
Syrian crisis secured Russia's comeback
Russia is making a powerful comeback into the Middle East through Syria, columnist Samih Saab wrote in the Lebanese daily Annahar.
Russia's president, Vladimir Putin, has become an essential partner in charting the political and military map in the region, marking the end of the US monopoly of the area since the end of the Cold War in the early '90s.
US President Barack Obama must be grateful for how Putin saved him on the issue of Syria's chemical weapons that helped the US to avert involvement in a new war in the Middle East.
As developments accelerated following Mr Obama's announcement of a planned strike on the Syrian regime, Mr Putin skilfully resorted to active diplomacy that eventually succeeded in defusing an explosive and potentially destructive situation.
"It is hard to believe that it was John Kerry's slip of the tongue in London that stopped a strike on Syria. Had Mr Obama not been convinced of the futility of the war, he would not have accepted the Russian offer for the deal that saved his face," the writer said.
"Russia has come back to assume its historical responsibilities to stop the US from engaging in war adventures abroad," the writer said.
The ambassador of the Russian delegation at the UN, Vitaly Churkin, can now confidently say "Russia will keep the world on its toes."
Kerry ignores peace process in Jerusalem
As soon as the US-Russian deal on Syria was announced last week, John Kerry the US secretary of state flew to Israel, where he met with the prime minister, Benjamin Netanyahu. Both men then held a press conference.
Strangely, questions and responses at the conference focused mainly on the situation in Syria. There was no mention of the peace process or the negotiations, the Palestinian daily Al Quds noted in its editorial on Tuesday.
"Mr Kerry exhibited great disregard of the peace cause despite his presence in the very heart of the region and among the parties to the conflict and the talks. This suggests that he doesn't have any real interest or concern whatsoever in the issue."
The only purpose behind the US top diplomat's visit to the region was to brief Israel, the most influential driver of US policy, about the deal, especially that the destruction of Syria's chemical arsenal ultimately serves Israel.
"Kerry didn't mention such issues as illegal settlements, Judaisation efforts, desecration of holy sites, confiscation of lands and the segmentation of the West Bank in a way that obliterates any hope for an independent Palestinian state. He focused only on Syria and this is exactly what Israel wants," the paper concluded.
* Digest compiled by Achraf El Bahi
aelbahi@thenational.ae

Leap of Faith

Michael J Mazarr

Public Affairs

Dh67
 

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”