People in Egypt demand, they indeed demand even during inflationary periods, i.e. see Carrefour at weekends; then you will realize what I am talking about.
The problem in Egyptian economy is a supply-side problem, such problem can be summarized into lack of domestic production in quantity and quality, heavy imports (along with a depreciated currency that brings in imported inflation), and non-administration of domestic prices
I personally recommend formulating a new version of the conventional trade theories of comparative advantage, Hecksher, and Ohlin, etc… to fit our existing economic situation. What really fits the Egyptian economy now -away from political complexities, under the table arrangements, corruption, etc…- to close the economic borders and stop importing, along with a strict supervision for the manufacturing process and imposing a high quality standards along the different economic sectors to compensate for the limited global competition of foreign imported products in Egyptian markets.
This way we can give a room for domestic production to flourish, domestic producers to make some profits in turn foster the process of employment creation. Developed countries during their initial phases of development, did not have to face the competition of ‘other developed countries’ products in their markets, as basically there was nobody in the market except themselves. The situation is now different for developing countries, they encounter a big and fierce competition of advanced, high tech and competitively priced products against their newly developed, low tech and relatively more expansive domestic products.
After all relying on the outside world and extrinsic sources of economic development, should eventually weaken domestic potentials “a country that cannot sustain its necessities is never meant to develop” as quoted by me 🙂
4 thoughts on “Anti-liberalizing policies for the Egyptian economy”
When I originally commented I clicked the -Notify me when new surveys are added- checkbox now every time a comment is added I receive four emails with the same comment. Is there that is you may get rid of me from that service? Thanks!
This entry could include so much more 🙁 Would you write more about it sometime?
Hey there excellent blog! Does running a blog like this
require a massive amount work? I have absolutely no understanding of computer programming however I
had been hoping to start my own blog soon. Anyway, if you have any recommendations or tips for new blog owners please
share. I know this is off subject however I simply had to ask.
Thank you, Sanat. Well from a technical side, no it is easy, WordPress is really an amazing web server that enables you to make all possible editing and changes to your blog or website, free and without any complexities. You do not need to have a programming background, also there are hundreds of free plugins that enable you to add interesting features only with a button click. The hard work comes from creating good and up-to-date content that catches people interest and encourage them to follow your blog. Wish you all the best.