chaines

Can Xi Jinping give Egypt a Chinese Marshall Plan?!
One cannot underestimate the importance—economically, politically, and strategically—of the anticipated visit by the Chinese President to Egypt. However, despite this importance, it will not establish the foundations of a Chinese Marshall Plan to rescue the Egyptian economy. The pattern of Chinese support and investment has not, so far, focused even on increasing the capabilities, productivity, and exports of the Egyptian economy. Moreover, the trade balance between the two countries is strongly tilted in China’s favor (20 billion dollars in Chinese exports to Egypt versus less than one billion dollars in imports from Egypt!), and Egypt’s governance priorities, directions, partnerships, and management vision—along with other factors—mean we should not let optimism run wild that the visit will serve as a genuine turning point for the Egyptian economy. Even so, we are greatly confident that this could happen if the will of the two leaderships in the two countries converges on that—especially since this is possible and would be a major win for both!
(Marshall Plan: a comprehensive program of economic support and rebuilding for Europe, proposed at the time by the U.S. Secretary of State George Marshall and endorsed by President Harry Truman.)
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