Original date: 04/12/2024
Auteur : Palestinian BDS National Committee (BNC)
Source : BNC website
If we ignore the intensification of capital flight and the drying up of foreign investment in Israeli high technology, in May 2024, 130 of the best Israeli economists sent the Israeli Prime Minister a “clear and categorical warning” about the “high probability” that Israeli economy and society falling into a “spiral of collapse”.
Prominent Israeli economist Dan Ben-David asserts that“Israel is four years old” before it “collapses”unless government policies undergo radical changes.
Israel’s debt soared to reach approximately $340 billion au 2th half of 2024, up 20% from the end of 2022, due to its ongoing #GazaGenocide. With a credit score close to “junk”according to Moody’s, and a growth rate estimated at ZERO in 2024According to S&P, Israel is forced to pay exuberant interest rates to service its ballooning debt.
Among the many signs that Israel is becoming a #ShutDownNation, Intel to two fermer Granulatean Israeli start-up that it acquired for $650 million in 2022after failing for months to find a buyer. In June 2024, Intel was forced to abandon a $25 billion project it had planned to build not far from Gaza.
In Chinethe world’s leading producer of electric cars, “cars equipped with Israeli technologies are causing growing concern”, following the “pager massacre” perpetrated by Israel in Lebanon. “ Safety systems developed in Israel could lead to car accidents due to the possibility of remote takeover by Israeli agents,” Chinese sources said.
“Several of Europe’s largest financial firms have reduced their ties with companies that are Israeli or have ties to the country, according to an analysis of filings by Reuters, as pressure mounts from activists and governments to end the war in the Gaza Strip. »
The Norwegian sovereign wealth fundthe world’s largest, sold all its shares in Bezeq, Israel’s largest telecommunications company, because of its “services to Israeli settlements in the occupied West Bank.” Norway has taken a stricter stance towards companies involved in the occupation, following the decision of the International Court of Justice (ICJ), in July 2024, according to which Israel’s occupation of Gaza and the West Bank, including East Jerusalem, is illegal.
Store fireone of the Nordic region’s largest investors, sold its stake in Palantir Technologies because it fears its “work for Israel could put the asset manager at risk of violating international humanitarian law and human rights “. Palantir is accused of knowingly enabling the Israeli genocide against 2.3 million Palestinians in Gaza.
« The decision of the Japanese company Yokohama to close the Alliance tire factory in Haderawhich employed nearly 500 people… raises questions about the future of the entire Israeli manufacturing industry. »
McDonald’s global salesa favored target of BDS, “fell 1.5% between July and September, the biggest drop in four years, more than twice the magnitude predicted by analysts. This decline follows that of 1% recorded between April and June. “ McDonald’s has faced boycotts and protests over its pro-Israel stance and his alleged financial ties to the country. »
« 7-Eleven to closed its eight stores in Israel ”, another indicator of the flight of capital and businesses away from the economy which is gradually “collapsed”. »
Israeli experts predict that 2024 will be marked as “the year tourism dies in Israel.” “Everyone who talks about the tourism situation in Israel sounds like they are delivering a eulogy to an open grave. » Israeli media reports that five restaurants recently closed their doors in Tel Aviv within a week.
The 130 Israeli economists declared: “Many of those who bear the burden will prefer to emigrate from Israel. The first to leave will be [les personnes hautement qualifiées] who have opportunities abroad. Scapegoating the Haredim, the economists add: “ Israel’s remaining population will be less educated and less productivewhich will increase the burden on the remaining productive population. This, in turn, will encourage emigration outside Israel.
The economists conclude: “Collapses do not occur when the situation has completely deteriorated, but earlier, when a sufficiently large share of individuals anticipate that the decline is irreversible. Once the burden-bearing Israeli population concludes that the country is on a definitively irreparable path, national collapse will inevitably follow ».
Arrest warrants issued by the International Criminal Court (ICC) against Israeli leaders have damaged the state’s international reputation, which only adds to Israel’s gloom. They “could also lead to calls for economic sanctions or boycotts against Israel, which would harm the economy.” International investors might consider that it is riskier to do business with Israelwhich would lead to a reduction in foreign investment and a decline in economic growth.
A senior lawyer from one of Israel’s largest law firms commented on the ICC arrest warrants: “The arrest warrants are undoubtedly a negative addition.” Over the past year, he added, “we have seen that international companies are more and more worried to be identified for their investments in Israel. Companies – mainly state-owned or those dependent on public funds – fear negative reactions, such as demonstrations against them and movements of employees or investorswhich explains why some transactions were not successful. »
Israeli experts also expect that the ICC’s indictment of Mr. Netanyahu ” affects security transactions of arms sales to Israel ».The Israeli-American genocide underway for nearly 14 months against 2.3 million Palestinians in Gaza is destroying hundreds of thousands of Palestinian lives and livelihoods. It also seems aaccelerate the descent of Israel’s 76-year-old regime of colonialism and apartheid into a ‘spiral of collapse’.
