Anti-liberalizing policies for the Egyptian economy

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 🙂

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4 thoughts on “Anti-liberalizing policies for the Egyptian economy”

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