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The political economy of globalisation
Published in Al-Ahram Weekly on 27 - 10 - 2005


By Taha Abdel-Alim
The process of globalisation, as well as its management and gains, fails to offer a complete picture of the economic challenges facing Egypt and other countries at present. Therefore, the formulation of an Egyptian strategy of response cannot be as complete as one would have hoped. Still, the way Egypt reacts to the non-economic aspects of globalisation remains critical to the future of the Egyptian economy.
Let me refer briefly to globalisation in its technological, social, cultural, political and strategic dimension, as well as to the globalisation of crime, corruption and terror. Let me also review Egypt's reaction to the non-economic aspects of globalisation as well as to the contradictions between the need to accelerate economic development and human progress and the impediments that constantly surface.
Economic globalisation and the economic consequences of globalisation need to be seen from three angles, all of which are related to political economy.
Firstly, one has to develop a scientific diagnosis of the concept, essence and the challenges of economic globalisation for we need to know the cause-effect relationship that sheds light on the process, management and gains of globalisation.
Secondly, one needs to determine the challenges facing the Egyptian economy under globalisation, both in the economic and non- economic sense. Thirdly, one needs to explore the conclusions and theoretical premises underlying Egypt's response to globalisation, especially the perils of adversary interaction with the process of globalisation.
Egyptian strategic thinking must focus on this analysis, for we need a strategic Egyptian vision that answers the country's need to adapt and positively interact with economic globalisation. In this current series of articles, I have addressed several key questions: Why have attempts at economic development in Egypt run into snags? What is the right way of reacting to economic globalisation? What do we mean by economic globalisation? What are the challenges facing the Egyptian economy in the age of economic globalisation? What domestic measures should Egypt take in response to the challenges of economic globalisation? And how would Egypt contribute to the international response to the challenges of economic globalisation?
Two major questions, and many more related issues, will have to be addressed. What is the Egyptian response to the challenges posed by the non-economic aspects of globalisation? And what options does Egypt have in its quest for comprehensive development in the age of globalisation?
* The writer is deputy director of Al-Ahram Centre for Political and Strategic Studies.


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