Egypt's Massive Potential, Wasted
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- เผยแพร่เมื่อ 18 พ.ย. 2024
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Once a powerhouse of the ancient world, Egypt today faces a range of internal and external challenges that are holding it back from becoming a major global economic force. With its prime location between Europe, Africa, and the Middle East, and control of the critical Suez Canal, Egypt has all the ingredients to be a top 10 global economy-but what’s standing in the way?
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Oh the irony
Yes, because youtube needs MORE AI spam.
Please stop promoting AI trash generators. Dislike to the video because of this add.
This App Becoming The New AD You will see in every video
@@TheTom951guitar kkkk
You perfectly explained why our country is going through such problems in one short sentence.
"What's good for the country isn't always good for it's rulers"
It explains why politics in general - within a country, regionally and globally - are so messed up.
@@recoil53 the thing is our rulers are exceptionally dumb
@@UltimateSpiderMan rulers aren't dumb they are cunning they only want their own benefit at the stake of the entire country
@@UltimateSpiderMan Maybe from your perspective. From their perspective they're still in power, so it's working. If it's dumb but it works, it wasn't dumb.
@ArawnOfAnnwn nah, I'm pretty sure they're dumb
The craziest part of this video is the Suez canal blockage being in 2021. I swear it was like last year
Just spent a month in Egypt in June. Never going back! People were nice, government was incompetent and corrupt.
Incompetent corrupt government just like Indiana.
People are not nice, just a bunch of bandits...
Looks like you are paid to do so.
@@mox889paid to do what? Government officials are the first to try and scam you if you go there. And bribes are expected for anything to be done.
Don't visit the government, visit the people :)
It’s crazy that, Egypt has a population of 100 million people
Not hard, it's actually much lesser than it could've been had the country not being corrupt since 1950, when the world had a population boom, but egypt was getting systematically impoverished for various reasons, like the brits, israel and most importantly, corruption and socialism
One of many reasons as to why the govt is ventuing out into the desert to build new cities. Not for other comical reasons as falsely claimed in the video.
@@Mohamed-bc3onThat massive military base says you are not being honest...
@jameskamotho7513 it's not a military base. It's the new headquarters of the ministry of defense, with all its branches and military colleges - hence the cheer size. I don't care if you believe me or not, but educate yourself on the matter first or ask questions before you make poor assumptions.
@@Mohamed-bc3on is it a poor assumption, or is it a conjecture based on overwhelmingly common past patterns. As the saying goes, "If it walks like a duck, sounds like a duck, it's probably a duck."
Maybe should've mentioned the problem of military involvement in the economy, and the issues it brings.
I think colors on the graph at 0:32 wrong. I don't think Turkey and all Balkans economy is better then Europe :D
Or Russia's... You can tell it's wrong by seeing Syria being more wealthy than Switzerland
Noticed the same
@@ravuste learn your color Syria is no data not 25k+ although yeah they mixed 25k+ and 10k-25k
He should hire me
@@allhailderpfestor4839 probably used his sponsor
I was excited that this channel finally talked about Egypt, but the research made for this video seems rushed and barely scratched the surface. There’s also a lot of random unnecessary mistakes in the video (like dates etc.), and a lot of the analysis presented seems to be copy and pasted from outdated opinion pieces.
For future videos, it’s probably a good idea to have economists from the subject country review the video before being posted.
The thing is, all of his videos suck. You just notice now because he talks about something you know more. But this is true for all of his videos! You just dont notice. Also he never talks about economy, he just reads some statista facts and gives you some basic history lessons
Provide specific instances of errors in this video, please. And cite your source
As others have said, the team is notoriously lazy with their research. You'll notice it wherever they cover your country.
@@XGD5layer depends on the video. Their Poland and Ukraine video avoided a lot of traps and mistakes most channels make, and didn't seem to make any glaring errors either
If Sisi weren't such a corrupt dictator, I'm sure Egypt wouldn't need another IMF loan.
There would just be another corrupt and incompetent leader.
Egypt doesn't "need" another IMF loan, el sisi sees it as free money.. because it is.. to him
tbf it's not only him. all the top government/military officials are corrupt. if he's gone he'll just be replaced by another corrupt mf.
His predecessors weren't much better.
If Egypt won’t pass to democracy or modernize it’s political system in any way then the situation will remain the same under any other dictator Egypt will ever have
The corruption is brutal. And it's not just at the top, everyone all the way down to the lowest worker has their hand out for a bribe. It makes other poor and corrupt countries look good in comparison. Egypt is going to need a full cultural reboot if it's going to progress past its current point.
It is not worse than Britain, as bribery and corruption are in the English genes
Usually they just resort to opening a war with someone to deflect any criticism.
"2016 protests" ?! Do you mean the devaluation of the currency in 2016? I don't believe we experienced any significant protests in 2016.
I was looking for this comment. He mentioned that not once, but twice.
There were protests in 2016 when sisi decided to hand over some islands back to the Saudis.
same comment lol he must have mixed it with 2013 these 2016 protests were pretty insignificant. I literally went and asked all my family and they all gave me the weird looks and said why would anyone remember these protests as of any significance
هو 30/6 كانت امتى؟
@@M7medKasem 2013
Egypt like to live everywhere but in Egypt.
Bro just cooked his comment to medium unique.
Same can be said for India
That is true. I knew a guy from Egypt who worked in IT and came to Canada that way. I asked him why he moved from Egypt and he laughed and told me that anyone with the ability to leave there does
No wonder, because only the rich people are able to live a "good life" in Egypt!🤔 #Corruption🙄
@satisfied656 This fits well for all developing and underdeveloped countries
Egypt is a shadow of the ancient profile of history . An imitation less influential than being portrayed .
0:31 Green and blue are certainly in each other's place, no?
Yeah that graph is super wrong
no not at all, switzerland and Germany are famously poor whilst the balkans and Turkiye are famously wealthy.
@@AlexC-ou4ju That's the sort of attention to detail we can expect from Economics Explained.
A small nitpick: Egypt doesn't have more oil/gas resources than it can consume, as stated in the video. In fact, it's facing enormous trouble extracting the gas it does have, which is not enough for its massive population in the first place. All of the gas that Egypt exports comes from other countries with pipelines to Egypt but no LNG infrastructure of their own.
Let us not forget that Egypt was affected by a sharp decline in gas exports after achieving eight billion dollars in 2021 and seven billion in 2022. Egypt returned to importing gas. Also, Egypt decreased and lost six billion dollars from the output of the Suez Canal due to the Red Sea tensions, but on another level, Egyptian remittances, Egyptian exports, and foreign investment increased.
Please allow me to forget. Cmon. stop whining already. Egypt fcked up big time
Skill issue lol
Come on! Please don’t promote garbage video generators. There is ENOGH AI trash in Shorts already
The best part was how he cut the example short, lol. Says it all, right there.
The internet is full of bullshit but yet here we are in an education channel. Reducing cost to content creators is a good thing.
Exactly. Especially with the AI generated voices
Bro you better take a deep dive into explaining the economic consequences of your sponsor, which is by far the most interesting part of your video. Dead internet theory indeed.
Finally you made the Egypt video!!
Videos like this make me feel grateful to live in the West. Every nation has its problems, but things seem far more hopeful here.
yes makes better brainwashed lol
The west was built on colonization and exploitation of resources. The whole world paid the price for you "hope"
😂
It's because the West is flourishing on the suffering of other counties, especially in Africa, but this flourishment will be shifting soon. That's the cycle of life.
@@hossamnasser9717- No, that is an excuse underperforming countries come up with. You ever notice losers and failures tend to blame all their problems on someone else? Hmmm, might be a connection there
Why do some of the best creators take sponsorships from companies whose output denigrates the concept of 'creativity'. This is just AI slop! Take less sponsor money from more dignified sources.
🤑
It's hard to resist, investors are shoveling money into the furnace with ai startup and those startups are spending crazy amounts of money. Who wouldn't want to get in on the action?
Dignity doesn't pay, and you can't pay with dignity. Can't eat it either. Or indeed anything else with it.
As an Egyptian I can confidently tell you that our biggest hindrance is internal corruption
As a foreigner who lived in Egypt, I can tell you that internal government corruption combined with the victim mentality of the people and the disorganized nature of Arab culture are the biggest hindrance.
@@theplasmacollider6431 Absolutely, victim mentality.. Always blaming others for own incompetence..
It's a growing trend in developing countries..
Nicely done. Obviously it has to be oversimplified to fit in a 15 minute video. Two major missing points are the tourism industry and the level of education of the population on the whole.
How interesting that Egypt is just above Argentina. Another country that has high inflation and borrowed from the IMF in the past. Both countries should be so rich if managed correctly.
there was no major protests in Egypt in 2016, you said so twice
the protesters were in 2011-2013
Google and wikipedia beg to differ. Protests were against Al-Sisi, not the Arab Spring.
@@barrysmithers5816
Sisi tolerates no protests
@@barrysmithers5816 I'm Egyptian, there were no major protests in 2016. there were some small scale protests in Cairo and Alexandria, but it was inconsequential, so mentioning them makes no sense here, and I still believe he meant 2013 protests every time he said 2016.
In 2016 .. November the 3rd.. They Devalued the Currency .. what is miscalled " Floating Of the Egyptian Pound (our currency) " 💚💚💚🐋
Other than corruption, we all know what is the main problem of Egypt that is not addressed in this video
the European colonisers neighbors of Egypt you mean?
@@lero_the victim mentality. You don't get to blame colonisation anymore. All your failures are your own fault.
Egyptian here. It's bad. Food prices have quardupled in less than a year and debt has been growing non stop. What he said about instability and corruption is both true. Since our independence we have been pushed into wars outside our borders by extremist pan-Arab leaders like Nasser for the sake of other people and in the end, Egyptians foot the bill today. Even now, pan-Arabists and Islamists still want us to join Hamas, Hezbollah and Iran in a war against one of the most sophisticated militaries on earth.
I have no hope in this place I just want to leave it.
lol i guess one day egypt either join resisstence or be forced to join ressitence economic union former fatamid lands
@@Houthiandtheblowfish Egypt should never join the axis of evil.
Nasser created the country. Without him it would have been a colonial appendage.
True, friend. Hopefully we both can leave. Trust the process, and work as hard as you can.
9:17 the country has a longstanding enthusiasm for constructing monuments in the sand 😂😂😂
This took me out 😂😂😂
The pyramids will still be standing long after the new capital is dust
I did not realize Egypt had such a large population. With so much non-arable land, I thought it would be lower
But the arable land that they do have is VERY fertile. Egypt was the breadbasket of Rome!
Ive been there. With the pyramids in the background all day and night.. spectacular
It's actually more positive than I thought !!
Because it's unbiased and real, he covered the bad and good and didn't make all black like what others do, as a guy who works in manufacturing and know that we are really growing in that sector, i a very happy that finally someone talked about out.
this is a pro gov econ outlook
he didnt talk about the civilian side of the issues in enough details or depth
Lol it really is not. The country is in much deeper trouble than he’s showing or perhaps he hasn’t done his research well enough.
4.6 out of 10 isn't good. Don't be proud
Their potential is wasted because they didn't build a Bass Pro Shops pyramid
Can we take a moment and appreciate how egypt's skies are always cloudy like its straight out of a movie
The most corrupt country I've ever visited and that's saying something having been to a lot of other poor countries
Sadly 😢
Can you explain? It doesn't rank as high on corruption indexes as other countries
Is it corruption? I heard that tipping is a big part of Egyptian culture that it puts American tipping culture to shame. You’re expected to tip everyone from street cleaners to tour guides to airport officers. Is that true?
@@nathanielzarny1176 Corruption indices are usually based on surveying business leaders and int'l experts. A tourist like OP would probably encounter more "everyday" types of corruption. Besides, it's just one person's ancedotal experiences.
What about india
Finally, I've been asking for it for months. Thank you tho
The problem with Egyptian is the same with the modern Greeks... they both live off the history of their past.
Right before great famine in Ireland, more people lived there than in whole Egypt.
I don't use AI. Also, here's my sponsor.
The largest refinery in Africa is now located in Nigeria. It is also the largest single train refinery in the world.
If it works as it should, it could be a great boost to Nigeria‘s economy and maybe someday worthy of it‘s own episode on economics explained 😉
Held back by corrupt Government, religious boundaries, education, work ethic/culture and too many tourists leaving with a bad taste. Worked here for 2.5 years and have visited most of the country.
What religious boundaries?
what do you mean by religious boundaries?
Wdym religious boundaries, i live here, it's quite liberal compared to some other countries
@@LeafSouls he is just parroting something he heard somewhere
invideo makes slop for tiktok
Also please discuss how Indonesia, like Egypt, has wasted its potential.
I'd love it of you made videos about Nigeria, Seychelles, and Botswana. Nigeria had it's independence day on the day this video was released. And well, economic frustrations has meant that it wasn't a day that was really celebrated by anyone
make a video of Belgium pls 🖤💛❤
That would be difficult as generations of scholars have not yet been able to define out how the heck it holds together. The latest theory is that it operates by osmosis and resonance from the surrounding countries.
Lol. That'll be easy.
A small country being overrun by north Africa and hence becomes a north African country. That's all about Belgium.
BMW already has a factory here, but I don't think they are having fun dealing with the Egyptian Government at all.
Understatement of the year: Decade?
Egypt has a longstanding enthusiasm for constructing monuments in the sand.
That AI sounded suspiciously like Ben Shapiro.
came here to say this. I'm surprised the AI didn't start monologuing about being unable to please his wife.
@@XhumpersX Hahahahaha you're so funny! So clever! Tell another joke, you should have your own special!
Ah a Ben Shapiro joke. How 'human' of you! I'm sure an AI trained on stereotypes and memes couldn't have done better...
There are three issues, Endemic corruption, Political unstably and absence of Law.
You sound quite optimistic about Egypt compared to other countries like Pakistan or the Philippines...
Egypt has the pyramids
Cuz egypt have suaz canal
Pyramids Goes PppppRRRRRRRRRRR
5:45 I SWEAR. we were solving a comprehension question in class and everyone said that
Its biggest problem is the culture and religion. Corrupt, backwards thinking, no place for women in the workforce, very aggressive „sales“people, people trying to scam you, bad policemen, low education etc etc. everyone I know who has been there says its a horrible place and they will never go back. There are countless videos of tourists getting scammed or harassed. Its also common with food poisoning. Why do business here when you can work with honest, well educated people in Europe or Asia?
I won't deny that cops are bad but women work you i.diot
After the currency devaluation, lots of factories are moving in Egypt, especially in Suez canal economy zone. Also Massive investment in green energy. Egypt current FDI is the highest in Africa. And you are right political instability especially in the middle east is a major drive away.
The Suez canal is in Egypt but Egyptians don't benefit from it.
the last time they tried to make benefit, the west attacked.
You cited BBC as a credible source...
isnt it?
yer because its not CNN or Fox news !
Some people no longer accept BBC as credible. It is very clearly agenda driven.
I have been waiting for this video
I'm an Egyptian, I am not sure, I understand the current trend of economy TH-cam channels that has been harshly criticizing Egypt's economy as if they were paid by an enemy of our country that just doesn't want us to succeed so they try to bash our name in a way.
I don't believe Egypt's economy is necessarily one of the best rising, but you are also not being fair to how much the country has evolved lately, the country's previous government of 40 years have kept us late for so many years, so you have to be fair that the current government can't magically turn the economy around in a couple of years.
Egypt's economy has actually been evolving as of lately, a lot was done and there's much more in progress for the future. Yes we are currently struggling a bit, but that's what most of today's successful countries went through at some point
Struggling for a better future is not a failure.
It's sad to see Egypt in such an abysmal economic state.
There's many reasons at play
It's their own fault
Great video.Can you also make a video about Uzbekistan's economy
It's true that by 2030 Egypt will become a better nation. as the government will be finally gone.
And if not, the people will remove it.
Long Live Egypt 🇪🇬
Charity will make that possible 💵
🇺🇲 🇪🇺 🤦♂️
@@BT-qs7id
In your dreams 😎
@@DjTahoun
It's REALITY 🤣🤦♂️
@@BT-qs7id
U r dreaming 😵💫 , Trust me
How tf is it gonna live with its current government and population? The only way Egypt will survive is when all the government resigns and a new more educated government takes charge. But that’s never gonna happen 😢😂😂😂
Do tunisia next.
Economic potential means nothing compared to 4500 years of consistent authoritarianism of one kind or the other.
Egypt is a lovely country full of bright, creative and hardworkong people. The problem is that most people are totally unrepresented, even ignored by the system.
This is likely untrue. Considering the thousands of bad stories coming from tourists
Shut up@@bobsemple9341
انا اول مصري اجي علي الفيديو 😂😂😂
😂مش وحدك في غيرك بقينا فضيحة بسببه
الكلاحة والكسل والمفاخرة إننا مهرجين وحب الاستنصاح والكسب السريع من أصغر راس لأكبر راس والفتي والهري في أي حاجة وكل حاجة والبجاحة والعين القوية في الباطل والتهاون في حقوق الناس
بجد والله عايشين في مأساة وبلاء لن يرفعه إلا الله..
@@amrmohamed1387كل الحنا محتجينه
ان دولة عربية واحدة تقوم وتعمل نجاح باهر وتصدر نجاحها للخارج، وكل دول تقوم كdomino effect
Realistically, a lot of Egypt's economic woes come from overpopulation. Egypt used to be the breadbasket of the Roman Empire but now has to import food. There just aren't enough natural resources in Egypt to sustain their own population. If you're struggling constantly to feed your people, relying on loans and foreign (unstable too!) grain producing regions, that is going to be a constant pressure. Having a good stable agricultural base to an economy is key, or at the very least having enough to feed yourself and ensure stability. Not to mention just how vulnerable they are now to any sort of disruption, environmentally or politically, or the fact that they're running out of living space near the habitable parts of the country. I don't see them escaping the current situation when such a fundamental aspect of their country is so broken.
False. They said that about China too but it was wrong. Population is strength if utilized, and it isn't not because it is unmanageable but because of corruption and inequality.
@@lestrange-du-nilfalse, china isn’t 97% barren desert.
@@lestrange-du-nilChina has way more resources than it needs. Even though China faces with a severe drought problem, there are still many water reservoirs on the northwest. But Egypt is literally a desert with a river on it.
@@lestrange-du-nilEgypt cannot be compared to China, Egypt is a gigantic desert with a narrow stretch of river. Most of Egypt is uninhabitable and with minute resources……..
Success seems to be connected with action . successful people keep moving . They make mistake ,but they don't quit .The stock market has plenty of opportunities to earn a decent payouts, with the rigIht skills and proper understanding of how the market works.
Assets that can make one successful in life
I. Forex
2.Stocks
3.Shares
@@AroShyti501You are right.
But I don't know why people remain poor due to ignorance
The world is gradually moving out of the I work for my boss era, and people who choose to be entrepreneurs are highly securing a brighter future for themselves..
i need an hour long analysis. This is rushed and massively simplified
When are we gonna get a video about Ethiopia's economy? It was the fastest growing economy in the world during the 2010's and also has a large population.
Cool vid btw, didn't know Egypt was a manufacturing hub
That new capital will need a huge water aqueduct. That will have an intake station along the Nile and will be a huge weakness. Sure there will be a military fort to guard it, but during times of unrest, a couple of disgruntled soldiers who look the other way, a bomb in the intake pipes…and that new capital becomes a high rise death trap.
4:24 i beg to differ current internal ports on the Nile are too ill equipped to handle any sort of shipping and there is a lack of care and maintenance for the system that goes back decades . so the nile is not a real shipping route at the moment instead its land shipping that takes place via trucks and a few expensive cargo trains
If you're Economics Explained, might I suggest you explain the economic (un)viability of AI projects in a long-form video? There's been plenty of failures to speak of on that front.
I'd second that, but it's probably pretty simple. Flashy new (expensive) technology, high operating costs, questionable monetization prospects, and leadership that may or may not understand these elements but is under a lot of pressure from folks who know even less. Still, I'd be curious to see his take on it given its nature as a bubble.
He usually does country profiles.
Not a fan of the AI sponsor.
As they say of Italy - Egypt, a beautiful country, spoiled by Egyptians.
Sounds colonial ngl
@@fesyuki america, a beautiful country spoilles by americans
@@Toastryan yeah why not
Earth, a beautiful planet spoiled by humans.
@@EvanKnightIsGood Way, way too many humans...
@0:32 the colors of the graphic are reversed. Dark blue should be on the top not second from the top.
Agreed
Not a fan of AI sponsors.
Even just accepting the sponsorship reduces how much I can trust your videos to be authentic.
I was hoping this day would never come 🥲
Please do video on Romania economy
As an Egyptian, I can confirm, we're fucked
Please have a look at Ethiopia and its economy next. I believe that it would provide interesting takeaways, and I'd love to hear your thoughts on it. Thank you! I'm a fan of your content.
Egypt has such a strong focus on their military but when their biggest asset is threatened by the Hutis they do nothing?
What do want them to do
We went there in the early 70s and got kicked out
@@shafsteryellow Joining Operation Prosperity Guardian would be a start. Why spend so much on your military if you refuse to use it against terrorist groups taking billions away from you?
The first map about GDP per capita, the colors are wrong
The new capital has nothing to do with unrest. They've been talking about building a new capital since the 80's.
Those aren't mutually exclusive
And if you believe that, I have a bridge across the Nile to sell you!
And if you believe that, I can sell you a bridge across the Nile!
And if you believe that, I have a bridge to sell you!
Cringe comment. Delete it
Most infrastructure projects here are done for the sake of corruption, as they are pretty easy to "overspend" on, not saying that the government is the whole problem but it wouldn't have been THIS bad
Aw Chucks!
I love and support my country Egypt
@MahmoudRoshdy0
روح العب بعيد
@MahmoudRoshdy0
احسن ما اكون من قطيع الخرفان ب لية
@MahmoudRoshdy0
و انت طالعلك ل.ي.ة
يبقا غطيها
Why? It's terrible. And you likely don't even life there
Big thumbs down to your garbage creation sponsor
Three hundred THOUSAND PER S H I P are you serious?! Every time they pass through?!
Small toll
On par with Pakistan, South africa and Romania, Romania with 19mil population comparing with 60m 111m or 250+.....thats a huge diference. Do Romania next please
We know why but the Political Correctness police forbid this being discussed.
Great video as always.
Can you also do a wasted potential for bosphorus strait?
I live in Egypt, it feels more like a 2/10
Speaking rapid-fire and with a heavy accent makes the content difficult
Captions help
Maybe drop the machine-gun speech rhythm
“At least 60% better than the Pentagon” 😂 I’m ☠️
Stop traditional production, and start using advanced equipment and production lines.
Please make a video about Moldova and Belarus
any nation can be a global potential. some more than others but at the end of the day its the will of the people that make a nation powerful.
0:31 the shades of green are clearly swapped out in the legend
Hopefully they can get themselves together and actually become a nice place to visit. Nobody ever goes BACK to visit Egypt due to the amount of scammers and harassment
Please do a video on the economy of the Philippines
The Philippines 🇵🇭 is an economic basket case
Period
Just forget about it
Weird how this kind of thing keeps happening outside the US empire. Must be a coincidence every time. Surely there's never a material reason for this.