Foreign Capital, Foreign Communities, and the Egyptian Revolution of 1952

2021 ◽  
pp. 103-130
Author(s):  
Robert L. Tignor
Keyword(s):  
Foreign Capital ◽  
Egyptian Revolution

Sufi Springs: Air on an Oud String

CounterText ◽  
2015 ◽  
Vol 1 (1) ◽  
pp. 38-58 ◽  
Author(s):  
Caroline Rooney
Keyword(s):  
Free Market ◽  
Alternative Form ◽  
Collective Consciousness ◽  
Right Wing ◽  
Initial Part ◽  
Egyptian Revolution ◽  
Mimetic Desire ◽  
Arab Uprisings ◽  
The Will ◽  
Arts Activism

The initial part of Caroline Rooney's essay offers an incisive account of the author's experience of Cairo in the years leading up to the 2011 uprisings that led to the end of Hosni Mubarak's rule. Rooney's narrative evinces an active Downtown cosmopolitan spirit characterised by a burgeoning sense of ‘audacity’ in forms of arts activism, and its attendant collective spirit of perseverance that increasingly rendered ineffective the repressive manoeuvres of Egypt's disciplinary State. Criticising the impulse to construe the Egyptian revolution in terms of a mimetic desire for a secular democracy on Western lines, Rooney insists that the Arab uprisings consisted, in many respects, of a revolution against Western-style free market neoliberalism. Countering the perpetual cynicism attendant to the latter, Rooney argues, requires a form of politicisation that maintains ‘the ongoing presence of the real as a matter of collective spirit’ – one that can outlast the colonial interlude by resisting the absolutist self-assertion of market fundamentalism and its collusions with ‘diplo-economic cosmopolitanism’ as a mode of class-discriminatory privilege, as well as the compromising nature of right-wing Islam. Rooney moves on to locate a counter-movement based on an alternative form of consciousness that manifests itself ‘as solidarity, as resoluteness, as genuine comradeship, as collective consciousness, as revolutionary faith and [as] festiveness.’ In the last part of her essay, Rooney raises the intriguing case of Sufism, and specifically its mulid rituals and its important role in the Egyptian revolutionary effort, as a relational cultural mode that can survive the will-to-dominance as a persistent and liberatory collective gesture.

Nasser's Gamble

2012 ◽  
Author(s):  
Jesse Ferris
Keyword(s):  
Cold War ◽  
Middle East ◽  
Arab World ◽  
Decisive Role ◽  
Original Material ◽  
Egyptian Revolution ◽  
Arab Nationalism ◽  
The 1960S ◽  
The Cold War ◽  
The Arab Spring

This book draws on declassified documents from six countries and original material in Arabic, German, Hebrew, and Russian to present a new understanding of Egypt's disastrous five-year intervention in Yemen, which Egyptian president Gamal Abdel Nasser later referred to as “my Vietnam.” The book argues that Nasser's attempt to export the Egyptian revolution to Yemen played a decisive role in destabilizing Egypt's relations with the Cold War powers, tarnishing its image in the Arab world, ruining its economy, and driving its rulers to instigate the fatal series of missteps that led to war with Israel in 1967. Viewing the Six Day War as an unintended consequence of the Saudi–Egyptian struggle over Yemen, the book demonstrates that the most important Cold War conflict in the Middle East was not the clash between Israel and its neighbors. It was the inter-Arab struggle between monarchies and republics over power and legitimacy. Egypt's defeat in the “Arab Cold War” set the stage for the rise of Saudi Arabia and political Islam. Bold and provocative, this book brings to life a critical phase in the modern history of the Middle East. Its compelling analysis of Egypt's fall from power in the 1960s offers new insights into the decline of Arab nationalism, exposing the deep historical roots of the Arab Spring of 2011.

Capital Flows to Developing Countries: Blessing or Curse? (Distinguished Lecture)

1998 ◽  
Vol 37 (4I) ◽  
pp. 125-151 ◽  
Author(s):  
Mohsin S. Khan
Keyword(s):  
Developing Countries ◽  
Capital Flows ◽  
Financial Integration ◽  
Foreign Capital ◽  
Foreign Debt ◽  
Capital Inflows ◽  
Private Capital ◽  
Policy Responses ◽  
Private Capital Flows ◽  
Significant Phenomenon

The surge of private capital flows to developing countries that occurred in the 1990s has been the most significant phenomenon of the decade for these countries. By the middle of the decade many developing countries in Asia and Latin America were awash with private foreign capital. In contrast to earlier periods when the scarcity of foreign capital dominated economic policy-making in these countries, the issue now for governments was how to manage the largescale capital inflows to generate higher rates ofinvestrnent and growth. While a number of developing countries were able to benefit substantially from the private foreign financing that globalisation made available to them, it also became apparent that capital inflows were not a complete blessing and could even turn out to be a curse. Indeed, in some countries capital inflows led to rapid monetary expansion, inflationary pressures, real exchange rate appreciation, fmancial sector difficulties, widening current account deficits, and a rapid build-up of foreign debt. In addition, as the experience of Mexico in 1994 and the Asian crisis of 1997-98 demonstrated, financial integration and globalisation can cut both ways. Private capital flows are volatile and eventually there can be a large reversal of capital because of changes in expected asset returns, investor herding behaviour, and contagion effects. Such reversals can lead to recessions and serious problems for financial systems. This paper examines the characteristics, causes and consequences of capital flows to developing countries in the 1990s. It also highlights the appropriate policy responses for governments facing such inflows, specifically to prevent overheating of the economy, and to limit the vulnerability to reversals of capital flows.

The Influence of Enterprises with Participation of Foreign Capital on the Labour Market Situation in Poland

2016 ◽  
Vol 11 (1) ◽  
pp. 45-57
Author(s):  
Dorota Sobol
Keyword(s):  
Labour Market ◽  
Foreign Capital ◽  
Foreign Direct Investments ◽  
Special Economic Zones ◽  
Labour Market Situation ◽  
Market Situation ◽  
Scientific Project ◽  
The Individual ◽  
Economic Zones

The aim of the article is to present the influence on the labour market of enterprises with participation offoreign capital in special economic zones (SEZ) in Poland. The research utilised selected results of the surveys conducted among enterprises with participation of foreign capital operating in all Polish special economic zones for the scientific project called Foreign direct investments in the special economic zones of Poland'. These findings are complemented by opinions from management boards of all the zones in Poland concerning the influence of the foreign direct investments (FDI) located in the individual zones on the labour market of the region in which they operate.

Investment Appeal of Russia: Conditions of Foreign Capital Attraction

2019 ◽  
pp. 88-93
Author(s):  
G.S. Migunova ◽  
I.V. Butenko ◽  
◽  
Keyword(s):  
Foreign Capital

Attracting foreign capital as a factor in ensuring the country's economic growth

2020 ◽  
pp. 34-41
Author(s):  
Taras Malyshivskyi ◽  
Volodymyr Stefinin
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Foreign Direct Investment ◽  
Low Income ◽  
Direct Investment ◽  
Foreign Capital ◽  
Local Level ◽  
Current Trend ◽  
Raw Material ◽  
Foreign Capital Inflows

The article examines the relationship between attracting foreign capital in the form of foreign direct investment and ensuring economic development. In particular, the analysis of the current structure of the economy is indicated, its raw material character is pointed out and, based on other researches, the necessity of its reform is substantiated, as Ukraine will remain a low-income country if the current trend continues. This is due to the fact that countries with a raw material structure of the economy are characterized by a low level of economic complexity, and therefore are not able to generate high levels of income in society. As a result, the expediency of stimulating the attraction of investment resources into the country’s economy, in particular in the form of foreign direct investment, is substantiated. The dynamics of attracting foreign direct investment to Ukraine and a number of other countries for the period from 1991 to 2019 is analyzed and the key negative factors that deter foreign investors from investing in the economy of Ukraine are indicated. As a result of the analysis, divergent trends in the economic development of Ukraine and other analyzed countries (Poland, Czech Republic, Slovakia, Turkey, Romania, Hungary) were identified, which contributed to economic stagnation and restrained economic growth and development. Taking into account the analysis, as well as based on the concept of investment and innovation growth, it is proposed to use the experience of Israel to improve the country’s investment attractiveness and stimulate foreign capital inflows by adapting the Yozma program to Ukrainian realities. According to our estimates, the adaptation of this program to the Ukrainian economy will attract about $ 350 million over a five-year period of venture capital alone. In addition, programs such as YOSMA can also be implemented at the regional or even local level. We believe that the use of this tool will improve the investment attractiveness of the country, as well as provide sufficient financial resources to modernize the domestic economy and ensure rapid economic growth.

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