“Trade creates wealth”: an age-old saying oft used to break international boundaries for the free exchange of goods, services, currency, and capital. But this age-old saying does not hold true when it comes to the underground economy of old-age empires’ wealth. Trafficking antiquities not only creates sinkholes in the public goods marketplace, but it also depreciates cultural heritage sights. Furthermore, these black market deals are exponentially increasing the rate of cultural homogenization by privatizing potential world-heritage commodities. Why be entrepreneurial with a public good like history? It is far more meaningful for archeologists, history enthusiasts, and the inquisitive society. Due to its unauthorized, undisclosed, unregulated, and highly informal, the black market for antiques can only be scratched at surface level but three distinctive vacuums emerge: currency, knowledge, culture.
globalEDGE Blog - By Tag: egypt
In light of ensuing protests in Egypt, attention has been turned to the potential effects the crisis will play on the already stunted global economy. President Morsi of Egypt announced that his decisions would not be subject to judicial oversight until a new constitution has been enacted. This seemingly dictatorial declaration is what sparked the unrest that has already greatly affected the national economy. The protests are continuing, as seen on Sunday when supporters of Morsi surrounded the judicial court, forcing them to suspend sessions until protests have ceased. Due to the continuation of this crisis, the global economy might soon experience some dangerous effects that the Egyptian economy is already facing.
Exciting news! The United States Trade and Development Agency, in coordination with the U.S.-Egypt Business Council and the U.S. Chamber of Commerce, as well as the Egyptian Embassy and the U.S. Departments of State and Commerce, will be hosting a two-day forum on June 27-28 to encourage enhanced trade and sustainable economic development in Egypt. This conference, being held this year in Washington D.C., will provide an unprecedented opportunity to foster increased cooperation and trade between the United States and Egypt by encouraging business-to-business networking and highlighting commercial opportunities and financing resources.
Everyone has been hearing about it lately. Look at any news site and it will be the top story if not many of the top five stories. Ever since Mohamed Al Bouazizi set himself on fire in December to protest Tunisia’s economic situation, revolution has been spreading across the Middle East. These conflicts are demonstrating how some of the world’s smallest countries can have great effects on the rest of the planet.
The protests in Egypt have taken over the media for the past few weeks. People have been treated with viewings of thousands in Tahrir Square calling for the resignation of President Hosni Mubarak. With Mr. Mubarak announcing that he is stepping down today, I’m not going to spend too much time talking about the implications of that particular uprising. Instead, I’d rather talk about the reasons behind the uprisings and some of the consequences that it may have in the Middle East.