Well, on the surface, things don’t look so rosy for Israel’s financial and commercial community.
In one corner, you can find the pessimists, complaining that Israel’s government still manages a restrictive economy in key areas. After all, why can’t local consumers buy fruit and veg from other countries? And it does not help that too many large companies are dominated by a few well-connected families.
And as ever, lurking on the other side of the ring is yet another threat of geopolitical violence: this time from Gaza. Just look at this crazy timeline from Sunday 21 August, as posted by Stuart Palmer. Which modern society can operate properly under such a dark cloud?
- 06:56 -Short while ago, 4 more Gaza rockets struck southern Israel.
- 07:20 -Iron Dome intercepts 3 rockets launched from Gaza into Israel
- 10:00 -7 rockets hit Israel in last couple of hours
- 12:00 -2 rockets hit so. of Ashkelon, Israel, threatening 112,900 Ashkelon residents; city Pop. = 1/3 of Florence, Italy Pop
- 14:03 - On Thursday Israel sent 263 truckloads with goods and gas into the Gaza Strip for the Palestinian Population and is sending more today.
- 16:40 - Fifty Gazans entered Israel for medical treatment while 22 rockets landed in southern Israel.
- 17:02 - IDF Announcement: In Response to Rocket Fire, Israel Air Force Targets Terror Sites in the Gaza Strip.
- 17:15 - Another Gaza rocket hit Israel, which is approximatly 11 miles north of the Gaza Strip, threatening the lives of 112,900 Ashkelon residents.
- 19:27 - Hamas-run Gaza rocket hit southern Israel communities near Israel-Gaza border. A total of 31 rockets struck Israel today.
- 19:45 - Hamas launched a mortar shell with phosphorus which hit Kerem Shalom today. Hamas broke the international law which states: It illegal to use the substance in inhabited areas.
- 21:33 - A short while ago two rockets fired from Hamas-run Gaza fell near Eshkol Regional Council.
- 21:59 - Following the terror attacks emanting from the Gaza Strip, the Israel Defense Forces’ soldiers helped in moving babies to protected wings in the hospital.
- 23:14 - Three more Gaza rockets just struck southern Israel.
Which country? Well, actually Israel does.
It is not that I am advocating that crises are good for the economy of the Holy Land. Quite the opposite. What I am saying is that Israel has found a way in the past two decades to move ahead, despite everything.
How? Why? Is it the natural desire of a population that looks to change and innovate? The effect of the brilliance of the Governor of the Bank of Israel, Stanley Fischer? A government that has held the budget debt ratio in control despite the previous credit crisis and now financial troubles in Europe?
The future remains unsure for many economies, including that of Israel. The mandarins in Jerusalem have much to improve structurally. For all that, the current fundmaentals look good and need to be protected.