Egypt is a microcosm of the economic disaster wrought by the Arab Spring. Despite half the population living on two dollars a day, foreign aid and revenue from tourism kept Egypt afloat under Mubarak. But since the revolution in 2011, the economy has imploded. Unemployment has soared as key industries shrivel, and capital flight is causing foreign exchange reserves to plummet. And, the latter is lethal. Egypt, with five percent arable land and eighty million souls, is running out of money to buy bread. The prospective starvation may become “a catastrophe of, well, biblical proportions.”
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