Last month The Atlantic magazine featured a cover story, The Obama Doctrine, written by Jeffrey Goldberg. Based on many hours of interviews with Barack Obama, it represents an attempt to understand the president’s overall foreign policy. It was both disappointing and damaging. It was disappointing in that it presents a US president who appears to have given up on delivering on the promise of his 2009 Cairo speech. He has resigned himself to an “unfixable” Middle East and “thrown in the towel”.
At the same time, the article is damaging in that the US president is quoted saying things that are deeply insulting to Arabs. Mr Obama emerges from the article as condescending and dismissive. I understand that there is much in the piece that is Goldberg and not Mr Obama, but there are still enough direct quotes that are deeply troubling. One, in particular, stands out for its anti-Arab animus: “Contrast [the Middle East] with South East Asia, which still has huge problems ... but is filled with striving, ambitious, energetic people ... the contrast is stark. They are not thinking about how to kill Americans. What they’re thinking about is ‘how do I get a better education? How do I create something of value?”
Not only does the quote ignore the recent bloody history of repression practised by several countries in South East Asia, it also slights the dynamic entrepreneurial spirit that is driving economic growth and social change across the Arab world. The comments sounded more like something Donald Trump might have said.
Admittedly, this US president began his term in office facing a greater set of challenges than any of his immediate predecessors. The country faced the greatest economic crisis since the 1930s. Not only that, but after two failed wars and the Bush administration’s disastrous handling of Hurricane Katrina, Americans were facing a crisis in confidence. Similarly, American prestige around the world had plummeted to all-time lows. And to make matters worse, politics in Washington had become toxic, with Republicans determined to defeat the president’s every effort to address the country’s crises.
Facing down these overwhelming challenges, the new President Obama projected hope and optimism. Working with the Democratic leadership in Congress he moved a series of measures designed to rescue critical industries, stabilise financial institutions, stimulate the economy, expand health care coverage and create new employment opportunities.
In an effort to address the grave challenges America faced in the Middle East, Mr Obama took a number of steps and then travelled to Cairo where he delivered an historic address promising “a new beginning” in the US-Arab relationship. It was a remarkable speech that admitted shared responsibility, called for mutual understanding, presented a constructive agenda for change and closed with Mr Obama acknowledging that because “no single speech can eradicate years of mistrust” it was imperative that bold action be taken quickly.
The Arab world responded positively, hoping Mr Obama would deliver. His opponents at home immediately attacked him, pledging to derail his efforts to change course on Iraq, Guantanamo, Israel-Palestine and improving ties with Muslim countries – and they did.
Seven years later, the promise of that Cairo speech remains unfulfilled. The reasons for the failure are many – some, though not all, of which can be planted at the feet of the Arab world. There were others.
Israeli intransigence blocked any reasonable effort to move towards peace. The Palestinian leadership, so weakened, deformed and discredited by the US and Israel’s mishandling of the so-called “peace process”, was unable to play the role it was unfairly asked to assume. The Arab Spring created new uncertainty in the region. The US military, eviscerated by the demoralising wars in Afghanistan and Iraq, was reeling in exhaustion. And poisonous partisan domestic politics made it difficult for the US president to find the support he needed. All of this is lost in Goldberg’s Obama Doctrine. Rewriting history, the Cairo speech is presented as an effort “to persuade Muslims to more closely examine the roots of their unhappiness”. Those were Goldberg’s words, but they were followed by this quote from Mr Obama: “My argument was this: let’s all stop pretending that the cause of the Middle East’s problems is Israel”. True enough, but if the US couldn’t live up to its responsibility in this “new beginning”, it is surely unbecoming to place the blame at the Arabs’ doorstep.
The US president still has nine months to deliver on the expectations he created. He can take bold initiatives: support a nuclear-free zone in the Middle East; recognise Palestinian sovereignty and statehood and take steps to rein in Iran and create a regional security framework. I hope he does, because it would be sad if the epitaph describing his administration’s Middle East policy were to end up being “From Cairo to Goldberg”.
Dr James Zogby is the president of the Arab American Institute
On Twitter: @aaiusa
ESSENTIALS
The flights
Emirates, Etihad and Swiss fly direct from the UAE to Zurich from Dh2,855 return, including taxes.
The chalet
Chalet N is currently open in winter only, between now and April 21. During the ski season, starting on December 11, a week’s rental costs from €210,000 (Dh898,431) per week for the whole property, which has 22 beds in total, across six suites, three double rooms and a children’s suite. The price includes all scheduled meals, a week’s ski pass, Wi-Fi, parking, transfers between Munich, Innsbruck or Zurich airports and one 50-minute massage per person. Private ski lessons cost from €360 (Dh1,541) per day. Halal food is available on request.
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
Brief scores
Toss India, chose to bat
India 281-7 in 50 ov (Pandya 83, Dhoni 79; Coulter-Nile 3-44)
Australia 137-9 in 21 ov (Maxwell 39, Warner 25; Chahal 3-30)
India won by 26 runs on Duckworth-Lewis Method
MATCH INFO
Uefa Nations League
League A, Group 4
Spain v England, 10.45pm (UAE)
Europe’s rearming plan
- Suspend strict budget rules to allow member countries to step up defence spending
- Create new "instrument" providing €150 billion of loans to member countries for defence investment
- Use the existing EU budget to direct more funds towards defence-related investment
- Engage the bloc's European Investment Bank to drop limits on lending to defence firms
- Create a savings and investments union to help companies access capital
The chef's advice
Troy Payne, head chef at Abu Dhabi’s newest healthy eatery Sanderson’s in Al Seef Resort & Spa, says singles need to change their mindset about how they approach the supermarket.
“They feel like they can’t buy one cucumber,” he says. “But I can walk into a shop – I feed two people at home – and I’ll walk into a shop and I buy one cucumber, I’ll buy one onion.”
Mr Payne asks for the sticker to be placed directly on each item, rather than face the temptation of filling one of the two-kilogram capacity plastic bags on offer.
The chef also advises singletons not get too hung up on “organic”, particularly high-priced varieties that have been flown in from far-flung locales. Local produce is often grown sustainably, and far cheaper, he says.
Washmen Profile
Date Started: May 2015
Founders: Rami Shaar and Jad Halaoui
Based: Dubai, UAE
Sector: Laundry
Employees: 170
Funding: about $8m
Funders: Addventure, B&Y Partners, Clara Ventures, Cedar Mundi Partners, Henkel Ventures
MATCH INFO
Karnatake Tuskers 114-1 (10 ovs)
Charles 57, Amla 47
Bangla Tigers 117-5 (8.5 ovs)
Fletcher 40, Moores 28 no, Lamichhane 2-9
Bangla Tiger win by five wickets
Results
6.30pm: Mazrat Al Ruwayah – Group 2 (PA) $36,000 (Dirt) 1,600m, Winner: RB Money To Burn, Tadhg O’Shea (jockey), Eric Lemartinel (trainer)
7.05pm: Handicap (TB) $68,000 (Turf) 2,410m, Winner: Star Safari, William Buick, Charlie Appleby
7.40pm: Meydan Trophy – Conditions (TB) $50,000 (T) 1,900m, Winner: Secret Protector, William Buick, Charlie Appleby
8.15pm: Al Maktoum Challenge Round 2 - Group 2 (TB) $293,000 (D) 1,900m, Winner: Salute The Soldier, Adrie de Vries, Fawzi Nass
8.50pm: Al Rashidiya – Group 2 (TB) $163,000 (T) 1,800m, Winner: Zakouski, William Buick, Charlie Appleby
9.25pm: Handicap (TB) $65,000 (T) 1,000m, Winner: Motafaawit, Sam Hitchcock, Doug Watson
About RuPay
A homegrown card payment scheme launched by the National Payments Corporation of India and backed by the Reserve Bank of India, the country’s central bank
RuPay process payments between banks and merchants for purchases made with credit or debit cards
It has grown rapidly in India and competes with global payment network firms like MasterCard and Visa.
In India, it can be used at ATMs, for online payments and variations of the card can be used to pay for bus, metro charges, road toll payments
The name blends two words rupee and payment
Some advantages of the network include lower processing fees and transaction costs
Common OCD symptoms and how they manifest
Checking: the obsession or thoughts focus on some harm coming from things not being as they should, which usually centre around the theme of safety. For example, the obsession is “the building will burn down”, therefore the compulsion is checking that the oven is switched off.
Contamination: the obsession is focused on the presence of germs, dirt or harmful bacteria and how this will impact the person and/or their loved ones. For example, the obsession is “the floor is dirty; me and my family will get sick and die”, the compulsion is repetitive cleaning.
Orderliness: the obsession is a fear of sitting with uncomfortable feelings, or to prevent harm coming to oneself or others. Objectively there appears to be no logical link between the obsession and compulsion. For example,” I won’t feel right if the jars aren’t lined up” or “harm will come to my family if I don’t line up all the jars”, so the compulsion is therefore lining up the jars.
Intrusive thoughts: the intrusive thought is usually highly distressing and repetitive. Common examples may include thoughts of perpetrating violence towards others, harming others, or questions over one’s character or deeds, usually in conflict with the person’s true values. An example would be: “I think I might hurt my family”, which in turn leads to the compulsion of avoiding social gatherings.
Hoarding: the intrusive thought is the overvaluing of objects or possessions, while the compulsion is stashing or hoarding these items and refusing to let them go. For example, “this newspaper may come in useful one day”, therefore, the compulsion is hoarding newspapers instead of discarding them the next day.
Source: Dr Robert Chandler, clinical psychologist at Lighthouse Arabia
Major matches on Manic Monday
Andy Murray (GBR) v Benoit Paire (FRA)
Grigor Dimitrov (BGR) v Roger Federer (SUI)
Rafael Nadal (ESP) v Gilles Muller (LUX)
Adrian Mannarino (FRA) Novak Djokovic (SRB)
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.”