Daily Memo: A Good Week for Deals

But there's plenty of cause for caution with regard to both the new UAE-Israeli and old U.S.-Chinese agreements.

A historic deal in the Middle East. The United Arab Emirates and Israel signed a historic peace deal on Thursday. It’s a diplomatic breakthrough, as the UAE has become the first Arab Gulf state to normalize ties with Israel – which is one of the conditions for regional peace talks on an Israeli-Palestinian settlement. As part of the deal, Israel said it would suspend plans to annex parts of the occupied Palestinian territories, though it’s unclear for how long. Israeli Prime Minister Benjamin Netanyahu said that he was still committed to annexation and that the suspension would be only temporary. While many countries, including the U.S., Bahrain and Japan, celebrated the move, others were highly critical. The Palestinians see the agreement as a betrayal, and Palestinian President Mahmoud Abbas has recalled the Palestinian ambassador to the UAE. And Turkish President Recep Tayyip Erdogan said Ankara was considering suspending diplomatic ties with the UAE and recalling its ambassador to show solidarity with the Palestinians. Turkey is already embroiled in a dispute with the UAE over Libya, where the two countries back different sides in the civil war. Unexpectedly positive U.S.-China vibes. The United States and China apparently still agree on one thing, at least. […]

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