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Israel, Palestine both stand to lose by cutting economic ties

If President Mahmoud Abbas follows through with threats to end the Palestinian Authority's economic cooperation with Israel, there will be wide economic repercussions for both sides.
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RAMALLAH, West Bank — The Palestinian people were divided following President Mahmoud Abbas' speech at the United Nations General Assembly on Sept. 27. Many supported the president and the message he conveyed, while others disagreed with him. But everyone agreed that should his ideas be implemented on the ground, it would create a new reality for Palestinians on all levels. The political game would also change and affect the Palestinian economy, but how? Will this be a dramatic change, and will its repercussions affect us directly?

Many of the citizens who spoke to Al-Monitor believe that the Israeli state will be the biggest loser, while the Palestinian people will win. They also think that the Israeli government’s angry reaction to the speech is intimidation, nothing more.

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