A senior US official on Tuesday made a strong pitch for Gulf Arab investment and promised them better treatment than meted out to Dubai port operator DP World two years ago as the United States tries to overcome turmoil in its financial system.
The rulers of the Gulf states must be shaking their heads collectively, and wondering just what the US thinks it is doing, coming hat in hand to Dubai to get these leaders to agree to invest in the US market.
After having occupied Iraq and Afghanistan (badly), and shooting up places like Pakistan and now Syria, the US is doing a remarkable job of looking like an international bully which needs a real intervention to save it from yet another potential round of military misadventures.
Unless Kimmitt understands and acknowledges this going in, his hopes for Gulf investment in the US are dead on arrival.
Additionally, Islamic banks are less exposed to the problems in the US markets because of how they lend money, which is on a fixed fee, and not for interest per se.
But if there is any silver lining on the bad US and international financial news, it is that the economic downturn may mean a more rapid pullout in Iraq, and a quicker coming to terms with the Taliban in Afghanistan, because there is no money left with which to fight these wars.