The new year has brought a disturbing reminder of how the economic chasm between the Middle East’s rich and poor countries is widening with each day in the wake of the Arab uprising.
While Egypt’s currency crisis has continued despite an injection of $2.5bn from Qatar, the Gulf state and its fellow energy producers in the Opec cartel are basking in the record $1.05tn net revenues they raked in last year.
The contrasting fortunes are part of stark broader picture laid out in a report last week by HSBC. It describes a region whose countries occupy not merely different worlds financially, but parallel dimensions.
Divisions deepen in two-speed Mideast - FT.com
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