LONDON -- The decision of the Libyan regime to declare and destroy its weapons of mass destruction, or WMD, is clearly beneficial to world peace and is a most welcome development. But we should beware claims by some Western leaders that this has come about because the Libyan dictator has seen what happened to Iraq and does not want to suffer the same fate as Saddam Hussein.

We should also be wary of praising Moammar Gadhafi for "his courage" and "statesmanship." Let us rather recognize that he has shown that he is not the demented megalomaniac some observers thought but rather a realist who has at last recognized that his country is suffering from sanctions and isolation.

If his regime is to survive, the Libyan economy must be developed, and this requires Western capital and expertise that can only be obtained if he comes to terms with the countries that he has hitherto regarded as his enemies.