Democratic presidential candidate Sen. Bernie Sanders speaks during a forum on race and economic opportunity. Evan Vucci / AP photo
Democratic presidential candidate Sen. Bernie Sanders speaks during a forum on race and economic opportunity. Evan Vucci / AP photo

Sanders was right about Iraq in 2002 – and still is



Democratic Party presidential hopeful Bernie Sanders has been unfairly criticised for being a “Johnny One Note” on foreign policy because he continually reminds voters of his early opposition to the Iraq War.

To explain why he continues to emphasise the importance of his decision to oppose that war, Mr Sanders has pointed to the speech he gave in October 2002, in which he laid out five reasons why he feared the Bush administration’s march to war.

Critics and cynics have flippantly dismissed his understanding in foreign affairs and have, therefore, ignored that important speech. Because it was so prescient, it deserves attention, not scorn. Here, in short, were the five reasons he gave in 2002 for opposing the Iraq war:

The Bush Administration provided no “estimates of how many young American men and women might die ... or how many tens of thousands of women and children in Iraq might also be killed”.

He was concerned “about the precedent that a unilateral invasion of Iraq could establish in terms of international law and the role of the United Nations”.

Because the United States was “involved in a very difficult war against international terrorism”, Sanders also echoed Brent Scowcroft’s concern that “an attack on Iraq ... would seriously jeopardise, if not destroy, the global counter-terrorist campaign”.

With the US “facing a $6 trillion (Dh22tn) national debt and a growing deficit ... a war and long-term American occupation of Iraq could be extremely expensive”.

Finally, Sanders expressed his concern with the “unintended consequences” of the war. “Who would govern Iraq [after] Saddam and what role will the US play in the ensuing civil war that could develop?” In reaction to the war, would extremists destabilise other governments in the region and would the “bloody conflict between Israel and the Palestinian Authority be exacerbated?”

To understand the significance of these five points, it is important to recall the false narrative the Bush administration was pitching before the invasion, and what actually happened as a result of the disastrous decision to go to war.

In the lead-up to hostilities, George W Bush and his colleagues created an elaborate web of deceit to sell their plans. The biggest lies they told were not those about Saddam’s nuclear programme and other weapons of mass destruction. More disturbing was the rosy picture they painted about how easy the invasion would be and the positive outcomes that would follow. Defence department officials assured Congress that the effort would only require a commitment of 60,000 to 90,000 troops.

They predicted that the regime could be toppled in six weeks and the war would be won in six months, costing the US a mere one or two billion dollars, with the rest being covered by Iraqi oil revenues. American troops would be greeted by Iraqis as liberators, and “the beacon on freedom would shine bright, lighting up the Middle East”.

What happened, of course, was closer to what Mr Sanders had predicted. After eight bloody years of war and occupation, more than 4,600 Americans died, with the lives of tens of thousands more shattered by debilitating injuries and post-traumatic stress disorder (PTSD). One of the more troubling consequences of this war are the 22 veterans who commit suicide every day – meaning that the US loses more young men and women every year to PTSD-induced suicide than it lost during the entire war.

The cost of the war, the occupation and the long-term care of wounded veterans is approaching $3tn.

Compounding this tragedy are the hundreds of thousands of Iraqis who were killed in the war and the civil conflict that followed. By dismantling Iraqi institutions and attempting to create from whole cloth a sect-based Iraqi government, the Bush administration stoked latent sectarian tensions that resulted in campaigns of ethnic cleansing and a dysfunctional political order.

Instead of defeating terrorism, the war served to aggravate it, with Al Qaeda and its successor ISIL spreading to at least 16 countries. At the same time, the war and American behaviours exhibited in the war – at Abu Ghraib and Guantanamo prisons – led to a precipitous decline in respect of and support for America across the globe, putting the country at even greater risk.

One final unintended consequence of the war was not only the growth of extremist currents in the Arab world but the unleashing of an emboldened Iran on the region. With Saddam and the Taliban defeated, Iran was able to expand its influence in Iraq and project its claim to be the leader of the “resistance against the West”.

As Mr Sanders correctly notes, it wasn’t just the Bush administration that supported this disastrous war. The Democratic-led Senate passed the resolution that was used to justify the invasion.

And so, dear critics and cynics, before suggesting that Mr Sanders lacks the wisdom to conduct foreign policy, pay attention to the judgment and foresight he demonstrated in what he has rightly termed the most critical decision senators were called on to make in this century.

In bringing up his opposition to the war, he is not only distinguishing himself from his Democrat rival Hillary Clinton, who supported the invasion, he is also correctly laying the predicate for a more thoughtful foreign policy grounded in respect for international law and institutions, cooperation with partners and diplomatic engagement.

Dr James Zogby is the president of the Arab American Institute

On Twitter: @aaiusa

From Zero

Artist: Linkin Park

Label: Warner Records

Number of tracks: 11

Rating: 4/5

PAKISTAN SQUAD

Abid Ali, Fakhar Zaman, Imam-ul-Haq, Shan Masood, Azhar Ali (test captain), Babar Azam (T20 captain), Asad Shafiq, Fawad Alam, Haider Ali, Iftikhar Ahmad, Khushdil Shah, Mohammad Hafeez, Shoaib Malik, Mohammad Rizwan (wicketkeeper), Sarfaraz Ahmed (wicketkeeper), Faheem Ashraf, Haris Rauf, Imran Khan, Mohammad Abbas, Mohammad Hasnain, Naseem Shah, Shaheen Afridi, Sohail Khan, Usman Shinwari, Wahab Riaz, Imad Wasim, Kashif Bhatti, Shadab Khan and Yasir Shah. 

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The specs
Engine: 2.7-litre 4-cylinder Turbomax
Power: 310hp
Torque: 583Nm
Transmission: 8-speed automatic
Price: From Dh192,500
On sale: Now

Electoral College Victory

Trump has so far secured 295 Electoral College votes, according to the Associated Press, exceeding the 270 needed to win. Only Nevada and Arizona remain to be called, and both swing states are leaning Republican. Trump swept all five remaining swing states, North Carolina, Georgia, Pennsylvania, Michigan and Wisconsin, sealing his path to victory and giving him a strong mandate. 

 

Popular Vote Tally

The count is ongoing, but Trump currently leads with nearly 51 per cent of the popular vote to Harris’s 47.6 per cent. Trump has over 72.2 million votes, while Harris trails with approximately 67.4 million.

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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.”

Company%20Profile
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COMPANY PROFILE
Name: HyperSpace
 
Started: 2020
 
Founders: Alexander Heller, Rama Allen and Desi Gonzalez
 
Based: Dubai, UAE
 
Sector: Entertainment 
 
Number of staff: 210 
 
Investment raised: $75 million from investors including Galaxy Interactive, Riyadh Season, Sega Ventures and Apis Venture Partners
Disclaimer

Director: Alfonso Cuaron 

Stars: Cate Blanchett, Kevin Kline, Lesley Manville 

Rating: 4/5

The specs

Engine: 1.5-litre turbo

Power: 181hp

Torque: 230Nm

Transmission: 6-speed automatic

Starting price: Dh79,000

On sale: Now

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