MISS WELBY

US asks Arab nations for $300 Billion to fund auto bailout

In AMERICA, ARABIA, AUTOMOTIVE, ECONOMY on 01/01/2009 at 10:43 AM

The US has had to go cap in hand to the Middle East asking for $300 Billion to fund the bail out for the auto industry. The US economy has long been shored up by the Gulf States and China. This time it is Saudi Arabia, UAE, Kuwait and Qatar who are being asked to foot the bill to save the US economy. It is not difficult to understand how mired the US is in Middle East politics and borrowed policy agendas, given the staggering dependency it has for both Arab oil and their money to keep it afloat. There is also a somewhat ironic twist that the US, funded as it is by the Arab nations, is so close a partner to Israel. The US again this week used its veto power to prevent a UN resolution calling for a end to the Gaza attacks. It must anger many Arab nations that the US, who some call ‘The Great Satan’, is saved from total economic meltdown, again, by members of its own brethren. The report comes from Saudi Arabia’s Arab News… Now Public

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