As an extention to the content that focussed on the future development plans for the Middle-East, it is useful to know some of the recent political context, which still affects the region in a significant way.
The vid talks about Iraq's USD17 Billion dry canal. That's a financially huge project. But still, in comparison, Iraq has had to pay USD53 Billion in war reparation to Kuwait for the 1991 conflict. The final payment was completed in 2022.
Related in an indirect way, there has been ongoing speculation about the Iraqi Dinar revaluation. Currently, 1 AUD is approx. 890 IQD. The exchange rate is expected to increase a lot in IQD's favour when Iraq regains political stability and makes great economic progress.
Compare to Kuwaiti Dinar. Currently. 1 KWD is approx. 4.80 AUD.
Iraq's history is complicated, much of which was linked to the foreign policies of the US, especially the chess moves of the CIA. There is increasing academic and open analyses and commentary on social media that Saddam Hussein was actually a visionary and good leader, who wanted to develop the best of Iraq. Unfortunately, he chose to stand against the might of the US in asserting Iraq's independence and socio-economic progress. The non-existent WMD was the consequence. Saddam was said to have died horribly when the US soldiers tortured and then killed him with a sword up his colon.
Muhamad Gaddafi was considered Libya's counterpart to Saddam Hussein in several ways. Also a visionary and good leader, also stood against the might of the US. Gaddafi had said that Libya was the gateway into Europe for Africa. A prosperous Libya would mean a safer Europe that was protected from African military rogue attacks. He was also deposed by the CIA, allegedly.
Neighbour Iran's political history is even more complicated. The US' intel agencies of NSA and CIA were alleged to be involved in a bitter power struggle to seize control over Iran's political leadership. One agency was pro-Shah, the other pro-Ayatollah. It's also about the perpetuation of regional conflict to expand the influence of the military-industrial complexes and to establish the huge profitability of disaster capitalism in the region. President Eisenhower has warned against the military-industrial complexes while his successor, President Kennedy, had threatened to destroy the CIA. The latter was assasinated, while the former was outplayed in political negotiations with two competing advanced civilisations. It's dark... very dark.
Why are these important? It has to do with the support, or absence of, by the US for these projects. The US has an invisible but tight hold on the Middle-East. It is the US' political "playground". The BRICS nations might support the project, but if the US doesn't, then the US might undo by subterfuge any progress made in retaliation for the BRICS dedollarisation of the USD.
Fortunately, the US and its allies, being India, Kuwait and Saudi, are all supportive of the project. This should augur very well for AUS' mineral exports, expecially Ni and Fe.
ARL Price at posting:
43.0¢ Sentiment: Buy Disclosure: Held
(20min delay)