Al Shindagah

8 | Al Shindagah | Issue 136 POLITICS ©Shutterstock Egypt’s future rests on its people’s shoulders nlike several of its neighbours, the Arab World’s most populous nation has thankfully succeeded in regaining its political, security and social equilibrium following years of turmoil. Egypt is on the right track and with wise governance could emerge as a regional success story. Often forgotten is that during the period from 1926 until 1953, Egyptians were among the richest, most educated and progressive Arabs. Cairo was the cleanest and most beautiful city on the planet. Egypt’s coffers were overflowing. At one time, the guinea was made of 7.43 grams of gold and the dollar bought a mere 25 piastres. In the 1940s, the Egyptian stock exchange was the world’s fourth largest. Egypt loaned the equivalent of $29bn to Britain during World War II and the US requested Egypt to give financial aid to European countries. Egypt was a land to which Greeks, Italians and Armenians, among others, gravitated seeking often menial employment. Working in Egypt was seen as a dream job. Unemployment never exceeded two per cent. Ethiopia and Uganda sought union with Egypt. In 1862, Japan sent a Khalaf Ahmad Al Habtoor • Published in the media on 16 May 2017 U mission to Egypt to learn how their country could emulate its success. As evidenced from black and white movies produced during the Egyptian cinema’s Golden Age and archived Pathé newsreels, cosmopolitan Alexandria was dubbed the region’s Côte d'Azur; its port was a hub for European cruise lines en route to India and Singapore. Royal princes were students in the city’s illustrious Victoria College. Fashion designers used to show their new collections in Cairo before Paris. Taxis were luxurious American Cadillacs. In those days, the country was renowned for producing the finest cottons and for constructing the world’s first solar station. Egypt’s former President Gamal Abdel Nasser was prominent among the army officers who gave Egyptians their independence from Britain and his nationalist pan-Arab fervour served as an inspiration to Arabs everywhere. His intention to improve the lives of the poor was worthy but sadly many of his socialist economic initiatives were misguided. Wars with Israel also contributed to the depletion of Cairo’s finances. Egyptians are feeling the pinch due to rising prices but they can look forward with confidence. I have visited Cairo on numerous occasions over the past year. It is chaotic and traffic-jammed but it remains one of my favourite cities presenting every facet of life in the raw. Whatever their station, whatever their personal burdens, Egyptians always manage a smile and a joke. The capital reminds me of an old mysterious lady clad in a faded ball gown, whose beauty still shines out of her wrinkled face. Tomorrow belongs to her heirs, the youth. They are Egypt’s true treasure and they need to be nurtured in terms of education and opportunity. Young people were disappointed by the outcome of their revolution; their dissipated dreams of greater freedoms and prosperity led a minority to lose faith in their motherland. The idealists were mistaken. Their vast country is blessed by an excellent climate, magnificent beaches, natural resources (oil, gas, phosphates, gold and iron ore) and its archaeological heritage has unique tourist potential. More importantly with all its advantages and imperfections, it is theirs.