Israelis’ supreme confidence is always laced with a feeling of existential vulnerability, and recent tensions with the United States underscore the ever-present question: Is time on Israel’s side?
In the state’s first decades, the imperative of survival rendered the question acute. In later years, proven military prowess and expanded territory provided literal and figurative breathing space while bolstering a sense of invincibility. Recently, though, the balance sheet has become increasingly mixed.
A good news economic story dominates the assets column. Israel has withstood the recent downturn, enjoying stable financial institutions and per capita income close to $30,000. It’s likely to join the Organization for Economic Co-operation and Development and is the No. 1 foreign issuer on Nasdaq. In a recent Technion poll, more than 80 per cent of Israelis singled out the country’s technological achievements as their key source of pride.
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