Monday, October 8, 2012

Egypt's Coming Economic Storm

Photo: Mohamed Morsi at UN General Assembly Sept 26. Reuters


The Muslim Brotherhood and Egypt's Coming Economic Storm -- Andrew Natsios, US News and World Report

Much of the news out of Egypt since the "Arab Spring" uprising has focused on the Muslim Brotherhood and its role in the collapse of the Mubarak government; and later its victory in the parliamentary elections in 2011 and slender win in the presidential election in 2012. That Egyptian narrative is gradually changing to one much more complicated and less visible focused on Egypt's economic crisis which will unfold slowly, but may then engulf the country like a title wave over the next few years. That title wave could drive Egypt to a much more violent second revolution.

Compared to the carnage in Libya, Yemen, and Syria, the first Egyptian revolution was relatively restrained. By the end of it, a thousand people rather than tens of thousands had died, the creaky physical and industrial infrastructure of the country remained intact, and the organs of state authority appear to continue to function however corrupt and inefficient. But appearances can be misleading as the country's coming economic crisis could lead to an unraveling of the state.

Read more
....

My Comment: Talk about perfect storms .... and yes .... I concur with it's analysis.

On a personal side note ..... and an indication of how Egypt is now being perceived by many in the West .... a good friend of mine is an avid "amateur" Egyptologist who travels to Egypt every second year .... and she has been doing it for the pat 20 years. Not surprisingly .... she now has no plans (or desire) to go there for the next few years (if not more). I am sure that her story is one example among millions .... that the Egypt that they once knew is no longer there .... and in its place we now have an Islamic government that has no interest in having people like my friend .... a single women who enjoys traveling alone .... come to Egypt for a visit. As she told me only yesterday when I brought up the topic of Egypt with her .... all good things come to an end.

Sighhh ... and in the case of Egypt she is right.

No comments: