100%

Scanned image of the page. Keyboard directions: use + to zoom in, - to zoom out, arrow keys to pan inside the viewer.

Page Options

Share

Something wrong?

Something wrong with this page? Report problem.

Rights / Permissions

The University of Michigan Library provides access to these materials for educational and research purposes. These materials may be under copyright. If you decide to use any of these materials, you are responsible for making your own legal assessment and securing any necessary permission. If you have questions about the collection, please contact the Bentley Historical Library at bentley.ref@umich.edu

November 26, 1993 - Image 42

Resource type:
Text
Publication:
The Detroit Jewish News, 1993-11-26

Disclaimer: Computer generated plain text may have errors. Read more about this.

12 MONTH CERTIFICATE

3.500%
3.550%

EVEREST
RATE

A.P.Y./

24 MONTH CERTIFICATE

4.0000/0
4.060%

INTEREST
RATE

A P Y /'IC

.

.

o

First
Rate
Rates.

These are fixed rate
certificates of deposit
that are insured by
the Federal Deposit
Insurance Corporation
(FDIC). A minimum
opening deposit and
balance of $500.00
is required to obtain
the stated A.P.Y.

.

60 MONTH CERTIFICATE

Call 338-7700
352-7700

5.000% 'M R: I T
f
5.090%

A.P.Y./

FIRST SECURITY

Neocolonialism
Or Integration

ABRAHAM RABINOVICH SPECIAL TO THE JEWISH NEWS

The shape of economic rela-
tions between the Palestinian
autonomy and Israel will be the
central issue — after security
— occupying the attention of
both sides in the critical period
of testing just ahead.
At an international seminar
at the Hebrew University ear-
lier this month, Israeli, Arab
and European experts agreed
that only by giving the Pales-
tinians something to lose — by
a rapid improvement in their
standard of living — could re-
sistance to the peace process be
overcome in the territories.
But while some participants
saw Israel playing the major
role in the creation of Palestin-
ian wealth for some years to
come, others cautioned it to
keep discreetly in the back-
ground for fear of being per-

Palestinians, dependence made
their economy hostage to good
political behavior.
Instead of exporting labor,
Dr. Kleiman said, the Pales-
tinians would eventually export
goods. The economies of the re-
gion were competing economies
rather than complementary, he
noted. Therefore, instead of
seeking to promote a regional
common market, Europe
should open its own markets to
the Middle East.
With massive investments
anticipated in the autonomous
areas, the head of the Israel
Manufacturer's Association,
Dan Propper, made it clear the
Israeli business community
would like a piece of the action.
"If we take part in the peace
process we should take part in
the building of peace," Mr. Prop-

ceived as swapping military
occupation for neocolonialism.
"We need a decoupling of the
Israeli and Palestinian
economies," said Shlomo
Avineri, a professor from He-
brew University. "There is too
much integration."
The danger, he said, was of
a South African Bantustan-type
relationship in which the au-
tonomous areas would serve as
a reservoir of cheap labor.
Hebrew University econo-
mist Ephraim Kleiman said the
Palestinians had no real choice
in the initial stage but to re-
main dependent on the Israeli
economy. "The alternative to
being dependent on Israel is to
be poor."
Over time, he said, both sides
had an interest in phasing out
employment of Palestinians in-
side Israel.
For Israel, there was the dan-
ger of ethnic tension. For the

per said.
He said the Palestinians
need the five-year interim pe-
riod to decide their economic
path and to build an infra-
structure. The limited re-
sources allocated to the
Palestinians during the inter-
im period, particularly in land
and water, did not permit them
to undertake comprehensive
planning, he said.
Mr. Isaaq rejected heavy in-
dustry as an option for the au-
tonomy. He said he did not
want cooperation with Israeli
firms to mean outmoded facto-
ries being dumped on the Pales-
tinians or the creation of
polluting industries in the ter-
ritories.
The seminar, on relations be-
tween Europe and the Middle
East, marked the opening of the
university's Institute for Euro-
pean Studies. Foreign Minister
Shimon Peres told the meeting

SAVIN( IS RANI(

"First in Service"

Main Office

2600 Telegraph Rd.
Bloomfield Hills. MI 48302

* Annual percentage yield when compounded quarterly. Rate is accurate as of 11/26/93.

EQUAL HOUSING

Penalty for early withdrawal from certificate accounts may be assessed.

LENDER

Eat less
saturated
fats.

WERE FIGHTING FOR
YOUR LIFE

American Heart
Association

U)



20% off

LLJ

u c i

42

The Bright Idea:

Give a Gift Subscription

PHOTO
RESTORATION

THE JEWISH NEWS

with this advertisement

(first time only)

29215 Northwestern Hwy. 358-2333

Back to Top

© 2024 Regents of the University of Michigan