All countries dream of being economically independent. Actually, it is an illusion. The fact that all countries trade, even North Korea, means that we all need each other.

Now consider the strange case of Israel’s economy, which was officially established 66 years ago in May 1948. The moment independence was declared, several Arab states and auxiliary armies invaded. Not a great start. Jump forward to 1986 and several wars in between, the economy was defunct – hyperinflation, tariffs protecting inefficient local industries, unemployment and more.

Today? Well, the country is no longer dependent on exports to Europe and to America. In stark contrast to established geo-political norms, Israel is seeking to become an exporter of fossil energy like gas. Hichtech – mobile, internet, cleanteach, biotech, nanotech, etc – remains the main drive of economic growth.

tech sector is very much based on local brawn and overseas investor capital. It is a basis for mutual discovery. Take two announcements from this week alone.

Intel’s first overseas presence outside America was Israel. There are currently three massive r&d plants in the Holy Land. They employ close to 10,000 workers and generate around US$4.0 billion annually in revenue. The company has just agreed to invest a further US$ 6 billion in their operations in Israel. That mean millions of more satisfied customers around the world.

Google already has executed five separate investment decisions in Israel. It runs and r&d centre near Tel Aviv. It even has created a special logo for web browsers during Israel’s Day of Independence.  In the past few months, Chairman of the board, Eric Schmidt. has reiterated his belief that “Israel has the most important high-tech centre in the world after the US.”

Schmidt’s own personal fund, Innovation Endeavors, has already taken a position in 14 Israeli start ups. In an interview published in Hebrew, he has pledged to up that commitment over the coming year.

There are those who take the position that Israel should be boycotted. If you consider the impact of Israel on the global society via these two commercial monsters alone, you immediately begin to understand why this argument is not just impossible but is hypocritical as well as downright odious.

It is fascinating to see just how Israel’s economy since 1948 has progressed, both internally and as an important element in creating wealth for the rest of the world.