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Live from Abu Dhabi Connect the World takes you on a journey across continents, investigating the stories that are changing our world.

Live from Abu Dhabi Connect the World takes you on a journey across continents, investigating the stories that are changing our world.

Baroness Nicholson: Iraq has massive potential

February 4th, 2014
01:57 PM ET

Britain's trade envoy to Iraq, Baroness Emma Nicholson, says that while Iraq is still facing huge challenges, it has "massive potential" for growth.

"Iraq is indeed growing dramatically in terms of private investment and in terms of output in oil and gas and construction of infrastructure… Iraq is most definitely growing at the rate of 10% a year, and has the highest potential growth rate in the region."

Along with its potential, the country faces some obvious challenges, the most critical being the level of on-going violence. Nicholson accepts this. "One of the great difficulties of course is the Sunni-Shia violence coming out of Syria, which has been spilling over into Iraq for much more than a year... I think there's nearly half a million Syrian refugees, and much of the violence is stemming from that. But nonetheless Iraq is growing."

One of the consequences of over a decade of instability has been an undereducated workforce. "There is of course a big deficit in education and training, and that's why universities and tertiary education and the learning of English as a business language is absolutely critical. The future is very good indeed, but my goodness me, it's a tough struggle to get there, but that's no reason not to be in there to help."


Filed under:  Becky's Interviews • Business • Middle East • Syria

Rate increase may hurt emerging economies

January 30th, 2014
02:22 PM ET

While some of the world's major economies are finally beginning to recover from the after-effects of the financial crisis, there's a flip side to that positive news.  Now, emerging markets are feeling the pressure.

Max Foster spoke to Marcelo Etchebarne from CEK Financial Group about the potential effects of a U.S. recovery on countries like Argentina.  

Etchebarne said that while Argentina has its own, unique circumstances, like sky-high rates of inflation, it does feel the impact of what happens in the U.S.

"Argentina has its own problems," Etchebarne said.  "But at this point in time, an increase in interest rates in the U.S. could be catastrophic in Argentina at some point during this year."

 

 

 


Filed under:  Analysis • Business • Economy • United States • Video