A good 10-minute video on Egypt's economy.
-Use public resources and debt to build a massive vanity ghost city, prioritizing this over more utilitarian uses of money.
-Have the military compete in a...
Egypt's strategy is sovereignty.
Not saying its the right choice, but it does have its advantages.
Look at the gulf, a polar opposite, an investor's haven, but the gulf states lack real sovereignty. The Iran conflict revealed this.
Egypt is strategizing for the worst case. People question why it doesn't open up or be more friendly to foreign investors. Egypt sees this as a national threat, so it does not say no, but makes it impossible for foreign interest to build up.
Moreover, Egypt pushes for national labor. Again look at the gulf, almost all labor is east asian and the nationals strive to manage what they never built or understood. A top down design basically. Gulf talks about self-driving cars when they've never manufactured simple tires.
Egypt is more bottom up. Again not saying their right or wrong. Its complicated.
Not saying its the right choice, but it does have its advantages.
Look at the gulf, a polar opposite, an investor's haven, but the gulf states lack real sovereignty. The Iran conflict revealed this.
Egypt is strategizing for the worst case. People question why it doesn't open up or be more friendly to foreign investors. Egypt sees this as a national threat, so it does not say no, but makes it impossible for foreign interest to build up.
Moreover, Egypt pushes for national labor. Again look at the gulf, almost all labor is east asian and the nationals strive to manage what they never built or understood. A top down design basically. Gulf talks about self-driving cars when they've never manufactured simple tires.
Egypt is more bottom up. Again not saying their right or wrong. Its complicated.
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