News about Hdeel Abdelhady
American economic and financial heft facilitates the extraterritorial reach of U.S. law. For example, global transactions that are denominated in U.S. dollars and processed through the U.S. financial system “touch” the United States, come within its jurisdiction and create a jurisdictional nexus to foreign parties, property and events associated with those transactions.
Dollar dominance fuels the global reach of U.S. law, including U.S. sanctions. Emerging trade and finance channels, led by non-Western nations, may if successful stem the global reach of U.S. law.
Hdeel Abdelhady and John Mbaku discussed the Egypt-Ethiopia Nile water dispute around the Grand Ethiopian Renaissance Dam, on WVON Radio Chicago’s African Diaspora Today. Listen to the program.
Ultimately, the success of Egypt’s political transition will be measured not at the ballot box, but at the breadlines. Egypt needs a national economic vision to transform its political aspirations into reality. But first the country must undergo a national mindset revolution. Egyptians must ask themselves and their leaders the clichéd question: where do they see themselves in the next five, 15, or 50 years? Will Egypt remain a foreign aid recipient whose fortunes twist in unpredictable political winds? Will its economic path continue to be paved with off-the-rack structural adjustments thought up in the halls of the World Bank and International Monetary Fund? Will Egyptians continue to accept — and expect — economic mediocrity? The answers, and Egypt’s future, will depend on the health of the national mindset.