 |
Al-Ahram Weekly On-line 16 - 22 November 2000 Issue No.508 
| ||
Published in Cairo by AL-AHRAM established in 1875 |
| ||
|
Al-Ahram Weekly On-line 16 - 22 November 2000 Issue No.508
| ||
| Published in Cairo by AL-AHRAM established in 1875 |
| ||
Egypt Region International Economy Opinion Culture Focus Travel Living Sports Profile People Time Out Chronicles Cartoons Letters No difference
By Ismail Serageddin*
We must stop talking about Egypt for a while and look at the world around us. But there is a reluctance to talk about other countries' experiences. When I mention India and its global strength in IT, the response is "but India is so vast, much bigger than Egypt." If I talk about the economic progress in Malaysia, the answer is that "Malaysia is so small." I talk of South Korea and I hear that "Korea's development is totally different -- Egypt is a different story."
But it is the knowledge of others' achievements that will enrich our (socio-economic) dialogue and help us face the problems within. A comparative study of South Korea and the Philippines shows how. Both are capitalist countries -- United States allies that maintain an American military presence. Both are substantial recipients of USAID. But South Korea has made the economic leap. The Philippines has not.
In the Philippines, the investment patterns brought about by former President Marcos and his entourage could not make it (economically) because the political elite and business people there put their money not into the Philippine economy, but into purchasing real estate in New York. South Korea, on the other hand, made it. Thirty years ago, no one would have believed this country would be exporting cars and electronic equipment to the US. It is not the Americans who brought progress to Korea, but companies like Daewoo (current troubles notwithstanding) and Hyundai. Despite existing corruption, both companies have poured profits and investments back into Korea, strengthening its macroeconomy.
In addressing globalisation forces and the challenges they bring us, there is the attitude in Egypt to plead for mercy. No one will have mercy on us. We are the ones who are responsible. Action starts internally -- inside Egypt. The way policies are drawn will determine our fate.
* Ismail Serageddin, former vice president of the World Bank, speaking to Cairo University's Centre for the Studies of Developing Countries' on "A New Paradigm of Development."
© Copyright Al-Ahram Weekly. All rights reserved
