Shotgunner51
RETIRED INTL MOD
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Egypt and China have an active economic relationship. In the three years since 2013, China agreed to give Egypt CNY 150m ($24.4m) to support social and economic projects. The total value of Chinese development aid programmes in Egypt amounts to $120.3m in non-refundable grants and $304.5m in concessional loans.
Before Al-Sisi’s visit to China, a Chinese presidential envoy to Egypt announced his country’s intention to establish a “comprehensive strategic partnership” with Egypt. .. Al-Sisi expressed his desire for increased Chinese investment, referring specifically to the development of the Suez Canal zone.
Irregards of whether a new arms deal is going to materialize or not I believe the economic partnership, specifically trade, infrastructure investment, agriculture and manufacturing will further boost between the two countries. Egypt has a sizable economy, recording the 4th largest GDP after KSA, UAE and Iran among MENA countries (Israel's GDP not included). In particular I believe investment will go into the Suez Canal Zone, one key growth engine for Egyptian economy.
man 80% of people barely have enough to eat and here money is being poured into defence for decades.
Yes lots of money has been poured into defense, but much of it is US military aid so the spend by Egyptian people is limited. See this as American taxpayers paying for protection of a "foreign" country aka Israel from Egypt an Arabic military leader, and you connect rest of the dots.
Egypt has maintained consistent growth over the years even during the 2008-2009 international financial crisis, achieving a close to middle-income country stage of development (WB2013 record, GDP per capita $3,314.5), fairly high literacy and much reduced poverty, malnutrition.
Naturally there are still challenges ahead to overcome, and I wish deeper economic tie with countries like China will help facilitate economic growth.
@Armstrong any opinion?
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