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WION Edit: Developing nations have a lot to learn from Israel

File photo: Israeli Prime Minister Benjamin Netanyahu. Photograph:( Reuters )

WION Delhi Sep 17, 2019, 06.20 PM (IST)

Elections are being held in Israel on Tuesday for the second time in five months. The polls will decide whether to extend Benjamin Netanyahu's term as the country's longest-serving Prime Minister.

On Wion Edit, we look at the political system of Israel. 

No one party has won an outright majority in Israel's history and coalition governments have ruled the country for its 71 years.

However, unlike India - this has never tied up Israel's development agenda. 

Israel is an advanced economy and ranks 22 on the UN Human Development Index. Furthermore, Israel has the third-largest number of NASDAQ listed companies. In fact, Israel is ranked third on this list, right after America and China. 

Israel is also a start-up hub. Two years ago, a World Economic Forum report called Israel - "The second most innovative nation in the world." 

For a country with a population of just eight million, Israel really knows how to punch above its weight. And they have been able to do this despite being locked in one of the world's longest-running conflicts. 

Israel's disputes with Palestine and other Arab neighbours has been going on since 1948. But, that has not held back its development agenda.  

The country which started out as a relatively poor nation has achieved all this in just 50 years. 

Between 1973 to 1985, the inflation rate in Israel went well over 400 per cent at one point. Learning from its mistakes, Israel liberalised its economy, participated in global trade and made big bets in the technology sector. 

Today, it is among the 25 richest nations in the world. The case of Israel could very well serve as a case study for developing nations, especially in South Asia. 

(Disclaimer: WION Edit is the channel's take on the big events of the world)
 

 

 

Story highlights

The case of Israel could very well serve as a case study for developing nations, especially in South Asia.