Fortune’s European editor, Nelson Schwartz, takes a swipe at Congress for scuttling the Dubai ports deal without stopping to think about the economic repercussions in this essay. http://money.cnn.com/2006/03/10/news/international/pluggedin_fortune/index.htm?source=yahoo_quote
There won’t be a lot of angry rhetoric from the Emirates, he writes, quoting Bill Reinsch, president of the National Foreign Trade Council.
Key Quote: “Don’t expect news of any public threats or cancelled orders to come from the Gulf in the coming days or weeks. ‘That’s out of character for the Gulf states,’ says Reinsch. ‘It’s more likely they’ll just act, and suddenly a deal is off.’”
But go-to analyst Richard Aboulafia tells MarketWatch http://www.marketwatch.com/News/Story/Story.aspx?guid=%7B60511631%2DF54E%2D43DF%2D9812%2DC8C7F2EE3F0E%7D&dist=newsfinder&siteid=google&keyword= that there may not be so bad as all that.
Key Quote: “The best hope is that the United Arab Emirates will view the scrapped ports deal as a result of a domestic squabble between the U.S. president and Congress … The UAE is ‘the one country in the Middle East where business comes before politics,’ so trade with the U.S. may go on as usual, Aboulafia said. That means the UAE would likely stick with Boeing when it completes the third part of a multibillion-dollar aircraft order, expected as early as this year.”
Still, if Emirates announces a 50-jet A350 deal in Farnborough this summer … maybe we’ll know why.
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