HSBC report on Arab Spring shows the cost of hopes dashed amid wreckage | The National:
"There have been many political, social and security analyses to mark the five-year anniversary of the Arab Spring, the series of events across the Middle East and North Africa that were the source of much hope and optimism in early 2011.
But there have not been many narratives of the economic consequences of those tumultuous events. Last week HSBC produced just such a piece of research. The lesson seems to be: be careful what you wish for – you might just get it.
For some, the upheavals at the time seemed to herald a bright new dawn where economies under the dead weight of kleptocratic dictatorship would be liberated from state control and dragged into the modern world. Entrepreneurs would emerge from the ruins to provide for a new class of enriched consumers eager to catch up with the rest of the world in terms of living standards, and empower the dynamic but underemployed youth of the region."
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