The Suez Canal and the Outlook for Egypt

Abstract

The Suez Canal has been regarded at times and uncritically as one of Egypt's great assets. It is so considered by many of the political leaders of Egypt, as their attitude on Canal issues bears witness. In the sense that the Suez waterway, both as a project and as an achievement, has brought the land of Egypt prominently into the world scene during the past century, it has been a factor in the trend of development of that country second in importance only to the Nile River itself. This is no indication, however, that the Canal has had a beneficent influence on Egyptian life. Actually, a careful estimate of the changes it has wrought, both economic and political, leads inescapably to the conclusion that, with respect to tangible effects, the waterway thus far has worked to the distinct disadvantage of Egypt. It is impossible to bring the intangible balance sheet to totals, but it is safe to say that an Egyptian patriot more concerned with his country's national security and a balanced budget than with its prominence in world affairs might well deplore the fact that the Canal ever progressed beyond the stage of discussion.