Yep, and the rest of the world has flushed an additional $40 billion into that cesspool. Squandered? What they mean to say is that the security environment is so dreadful that as much as half of the funds in many projects goes toward providing security, that projects are frequently abandoned because of the deteriorating security situation, and that much of what does get built soon gets wrecked again.
What exactly has changed so that the next $10 billion will be any different?