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AS ALL BUT A FEW naive idealists now concede, the current American-led effort to remake Iraq as a viable and peaceful democratic state is on a losing course. Whether Iraq descends into a civil war or breaks up into three or more largely autonomous regional governments that represent the separate interests of Shiites, Sunnis and Kurds, two things are clear: the Iraqi people will suffer more bloodshed and the USA will suffer more humiliation. The Iraqi government is simply too weak and too deeply divided, and its economy is too battered and too dependent on foreign aid for it to be otherwise.
But there is a silver lining to this debacle: the end of three dangerous ...