The reasons businesses are putting off investment decisions have less to do with possible war in Iraq and more to do with business fundamentals
Most news stories on the outlook for business spending in 2003 come complete with the caveat that investment is being held back because of 'uncertainty surrounding a possible war with Iraq''. This observation triggers a sympathetic nervous-system response in me. A potential war with Iraq may deter building infrastructure in the Middle East. It shouldn't have anything to do with a US company's decision to upgrade its information technology systems, improve the efficiency of manufacturing plants or develop new products. If a war in the Middle East leads to a nuclear dark winter, presumabl...
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