Also filed under Mideast financial connectivity

ARTICLE: "Government of Abu Dhabi Buys Stake in Carlyle," by Thomas Heath, Washington , 21 September 2007, p. D1.

Only other outsider ever previously allowed into stake equity with Carlyle was California Public Employees Retirement System, another nefarious sovereign wealth fund!

Comments

[stuart abrams]

This is an example of why I say "connectivity" is not enough. In order to get into the Core, you not only have to be connected, you have to be able to participate. Wouldn't it be better if, instead of investing in Carlyle, the government of Abu Dhabi (or any of the other petrocracies) used the money to provide incentives to Nike to open up a factory there, providing local jobs and ultimately building a local middle class? Instead, a fabulously wealthy country like Abu Dhabi remains in the Gap, and an investment in Carlyle is not going to change that. This is why there is such a thing as the "natural resources curse".