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Spengler

Egypt Starves (and Egyptians Steal)

April 15th, 2013 - 6:37 am

If the cotton is bought by local textile companies, and their exports are down by 10% during the first 9 months of 2012, where did it go?

It is all the stranger given that domestic cotton varieties are generally exported to manufacturers of high-end fabrics, while Egypt’s textile industry  imports cheap yarn from Asia for mass market ready-to-wear clothing. As the Financial Times reports,

Egypt is known for the high quality of its cotton, but the local crop, most of it long-staple varieties, is mainly exported because it is too fine and too expensive to use for denim and T-shirts, the main items manufactured for western markets.
“The impact of the devaluation is not as positive as it could have been, because the problem here is that we have not deepened the industry so we still need to import a lot,” says Magdi Tolba, chief executive of the Cairo Cotton Center, an Egyptian manufacturer which supplies retailers in the US and Europe such as Macy’s, Nikeand Marks and Spencer.
“All fabric for exported garments comes from abroad. Even the yarn for T-shirts comes from southeast Asia.”

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All Comments   (11)
All Comments   (11)
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Why do I look at reports like this and see an Islamic North Korea?
The motto's of the regime seem to be 'Reality isn't real' and 'Image is Everything'.
What's going to happen when the Cairines start practicing cannibalism like their allies in the DPRK?
1 year ago
1 year ago Link To Comment
I REALLY miss the old "Inner Workings" column from David. Especially with these turbulent markets. May you could offer a cheapo version for loyal fans? :D)
1 year ago
1 year ago Link To Comment
Not that it matters much, but the correct name of the port in Suez that you mention in the last paragraph is Adabiya, and not Abadeya. It's spelled incorrectly already in the original article of the Egypt Independent that you quote. Must have been translated from Arabic by a dyslexic. Perhaps the proverbial dyslexic Agnostic insomniac who spends all night awake in bed wondering if there is a Dog.
1 year ago
1 year ago Link To Comment
I was going to make a joke about Soylent Green, but it might give the MB ideas.
1 year ago
1 year ago Link To Comment
How much do u suppose the Russians or Chinese would pay for an F16 or Abrams tank? Enough to balance the budget and line the MB pockets for a year perhaps? I really hope they have self destruct buttons on them!
1 year ago
1 year ago Link To Comment
An M1A1 Abrams MBT goes, wholesale, for about $1.5 million. An F16, now into a longer production run, is about $20 million. In both cases that is the US version.
$21.5 million for vehicles without the electronic raz-ma-taz won't make a dent, in either Egypt's budget woes or Sino/Russian intelligence needs.
1 year ago
1 year ago Link To Comment
It is simple, really. In the next 4 to 9 months we will start seeing hours and hours of video showing starving Egyptians. The Low Information Emotives (LIEers) will hold live aid concerts, complete with candles, raise a lot of money and 'consciousness' to provide food and fuel for the hungry. They will be purchased at world commodity prices and REMOVED FROM THE EGYPTIAN budget, forever. NGO's will have more staff, growing the Poverty Industry and all will be happy, More self satisfied, cooing hand wringers, more dependency and more freedom of action for the MB.
Morsi is dumb? Not.
1 year ago
1 year ago Link To Comment
It's interesting that the government of Libya is joining Qatar in making emergency loans to Egypt. Does the current Libyan government feel an ideological affinity for Morsi's MB or is this an extortion payment so the Egyptians don't invade?
1 year ago
1 year ago Link To Comment
"The government has just three months’ worth of wheat in stockpile and is likely to run short of the country’s main foodstuff by earlier summer."

No Olympics this summer. Instead we'll get to watch Egyptians riot and starve.
1 year ago
1 year ago Link To Comment
What should the U.S. do?

Pass emigration reform so that the USA will so destabilized and incoherent that it will be unable to resist the large waves of Egyptians emigrating to the USA.

Hello Chuck Shumer. Its all about you.
1 year ago
1 year ago Link To Comment
What should the U.S. do?

Borrow money from China to loan to Egypt.
Tax rich Americans to subsidize poor Egyptians.
Send more foodstuffs to Egypt to feed those who despise us.
Send more armaments to Egypt so Morsi can control the hungering rabble.
Wait and see what happens.
Add to the list as you wish.
1 year ago
1 year ago Link To Comment
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