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Explainer on the Israel-Palestine Conflict. Historical background, economic impact, and potential spillover effects explored. Impact of Israel's restrictions on Gaza, suggestion of economic peace, and the Abraham Accords discussed. Possibility of spillover effect on oil prices.
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Quick takeaways
- The Israel-Palestine conflict originated from the decision to establish a national home for Jewish people in Palestine, leading to tensions with the Arab population.
- Israel's restrictions on movement and trade have contributed to the collapse of Gaza's economy, causing high levels of unemployment and poverty.
Deep dives
The Balfour Declaration and British colonization
In 1917, Britain made a pledge in the Balfour Declaration to establish a national home for Jewish people in Palestine, which was under British colonization at the time. However, this decision angered the Arab population, who felt that their land was being taken away from them. This laid the foundation for the Israel-Palestine conflict.
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