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Syria Cracks Open Its Frail Economy
Long WSJ piece on the potential for economic change in Syria to lead to political changes.
DAMASCUS -- Syria is accelerating its economic opening -- boosting U.S. hopes that its tight relationship with Iran might be weakened. For decades, Syria has been defined by its rigid socialist economy and its military ties to Iran against Israel and the West. Trade sanctions have taken a heavy toll: More than half the 16 jets in Syria's state airline can't fly for lack of spare parts.

But President Bashar Assad -- heir to his family's political dynasty -- has started unshackling the economy by permitting private banks and insurers to open shop and by letting Syrians hold foreign currency without risk of being tossed in jail. In March, he opened Syria's first stock exchange. Nearby are a Ford showroom and a KFC restaurant.

His four-year-old overhaul is now getting an unexpected lift from Washington. This fall the U.S. plans to name an ambassador to Damascus, its first in years. And in late July the State Department eased some sanctions set by President George W. Bush to punish Syria's support for militant groups Hezbollah and Hamas.
Posted by: Steve White 2009-09-01
http://www.rantburg.com/poparticle.php?ID=277948