Competing Economic Visions in the Arab Uprising

This past November, Dr. Nasser Saidi, named one of the 50 most influencial Arabs in the world by The Middle East magazine, held an event at LSE on the topic, "Competing Economic Visions in the Arab Uprising: Navigating without Roadmaps". Saidi talks about the economic reforms for the Middle East and North Africa in the current political environment. Here are some interesting points Saidi brings up:

• The region as a whole has high spending on the military but it turns out that it is not for defense of outside power but defense for the person in power against its own citizens. This means less money is being spent on social infrastructure, education, healthcare, etc.
• There are large discrepancies in per-capita income in the region: South Sudan (700 dollars a year) to Qatar (100,000 dollars a year), all within the same geographical map
• Rising food prices of 20% per annum. This can be compared to a 10% cut in income.
• Where should the region turn for economic reform? Job creation. 
• The total labor force right now is 150 million people and it is expected to grow to 185 million by 2020. There's around only 104 million jobs in the Arab world. 
• An economic growth of 6-7% per annum on a sustained basis will get the region there. This percentage is near current Chinese growth rates. 
• Keep in mind that recovery will not be sad. Reforms implemented today will take months and years to really improve the economy.

Dr. Saidi also emphasizes that the region has no common vision and no common model to combat government transformation. When Germany was experiencing a government transformation, the European Union created the European Bank for Reconstruction and Development EBRD which helped finance the transition. The Middle East should create institutions that can ease government transitions.

To listen to the entire lecture:
http://blogs.lse.ac.uk/mec/2012/12/03/competing-economic-visions-in-the-arab-uprisings-navigating-without-roadmaps/