Page 27 - Issue 71

VOL.1 , ISSUE 71OL.1 , ISSUE 71
V ELITE

Professor Gouda responded that we must not
entrust our affairs to foreigners, emphasizing
that developing the Suez Canal should not be
done through foreign entities. He emphasized
that the strategic importance of the Suez Canal
as a waterway exists in the long term, but its
economic value as a purely maritime waterway
has begun to decline as a result of the long-
term shifts taking place in the global economy.
He then moved on to discuss the situation in
Why do all countries seek to produce the
America, explaining that the dilemma facing
same goods despite differing needs and
American society is a lack of savings, a problem
resources?
Egypt also suffers from, as we import more than
Dr. Hassan emphasized economic integration
we produce. He also explained that everything
over competition, which suits a world with
that happens in Egypt—economically, socially,
varied needs and capacities.
and politically—is linked to the US dollar, which
Can globalization truly decline when only
calls for serious consideration of severing the
the U.S. is stepping back, while China and
link between the Egyptian pound and the US
Europe remain committed?
dollar. He also warned against opening the
The shift toward regionalism is due to global
doors wide open to hot capital, which could
disruptions, wars, supply chain crises, etc.
suddenly leave the country, as happened in 2022,
According to Dr. Gouda, economic power is
emphasizing the need to establish strict controls
still in transition, not fully shifted.
on this type of investment. and ends his talk by
Dr. Adla ends the symposium by thanking
thanking the audience.
both speakers for their valuable insights and
Dr. Adla opened the floor for questions from
expressing gratitude to the attendees.
both the in-person audience and online
attendees. Highlights included:
A question was raised about assessing the
economic value of the Suez Canal and

Emirati investments in the region. Can
enemies influence them?

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