Don’t write John Kerry off yet

As continued troubles roil the Middle East, the need for action to stabilize the region economically becomes more urgent. Since 2011, in much of the Arab world a lack of stability has created a vicious circle of weaker economies and political unrest that is becoming tougher to handle through normal policy measures. Of course, many problems in Arab economies are internal, due either to local political conflict or mismanagement. Yet, the regional situation has a major impact: despite home-grown elements of the Arab Spring in many states, the Palestinian-Israeli dispute remains a major obstacle to regional stability and prosperity. Real peace between Arabs and Israelis could help the countries around Israel to end costly and destabilizing confrontation, allowing the private sector and civil society to flourish. In the case of Lebanon and Syria, the advantages of a genuine, just peace with the Israelis would be dramatic, but Egypt and Jordan