January 31, 2011
rEALISM IS JUST A CONSPIRACY TO KEEP THEM UNFREE AND POOR:
The Economic Roots Of the Revolt: Few countries have been less integrated into the global economy than Egypt. (ZACHARY KARABELL, 1/31/11, WSJ)
The mass movement engulfing Egypt exposes a fact that has been hiding in plain sight: In a decade during which China has brought more people out of poverty at a faster rate than ever in human history, in a period of time where economic reform has been sweeping the world from Brazil to Indonesia, Egypt has missed out.A decade ago, IBM ran a series of commercials featuring its global reach. One included a fisherman sailing on the Nile, tapping into a wireless network. It was an enticing imageāand almost completely fictional. Few countries have been less integrated into the global economy.
The country ranks 137 in the world in per-capita income (just behind Tonga and ahead of Kirbati), with a population in the top 20. And while GDP growth for the past few years has been respectable, averaging 4%-5% save for 2009 (when all countries suffered), even that is at best middle of the pack in a period where the more competitive dynamic nations have been surging ahead.
Posted by Orrin Judd at January 31, 2011 7:32 AM
