Economists warn that growing strength of Jewish state's economy poses next big challenge.
Osama Habib reports Lebanon must redefine its economic role if it wants to be a strong competitor to Israel and other regional countries once peace has been achieved in the Middle East. This was one of the urgent recommendations made by a group of Lebanese and Arab economists on Monday during a debate on economic services and Lebanon's competitive ability. Concerned by Israel's powerful economy and banking sector, the economists stressed that Lebanon should set realistic priorities and not rest on its past glory. However, Baz said, Lebanon could still be a financial intermediary center in the region, noting that such a role did not currently exist in the Middle East. He also underlined the need to create more jobs and increase incomes because the average wage had dropped between 1985 and 1995.