Israel: Three Steps Back

Mideast turmoil is roiling economies near and far

It was just another little-noticed casualty of the collapsed Middle East peace process. Crown Prince Hassan, the bookish brother of Jordan's King Hussein, had invited academics and government officials from Israel and the Arab world to the ancient city of Petra, deep in the Jordanian desert, for a two-day retreat in early October. But after the worst Israeli-Palestinian bloodshed in years, the normally moderate Jordanians canceled the meeting. Ironically, Hassan had called the Petra get-together "Fears of Peace."

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