Economic Challenges Facing Middle Eastern and North African Countries Alternative Futures

The countries of the Middle East and North Africa face enormous economic challenges as thy enter the twenty-first century. With rapidly growing populations and labour forces, stagnant real wages and deteriorating competitiveness, most economies of that region have failed to deliver improved living standards for much of society. Yet the opportunities facing the region have never been greater - world trade is growing rapidly, potential capital inflows are enormous, and regional options are numerous as a result of the peace process and Europe's proposal for free trade area in the Mediterranean.