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  • Ever since the Jasmine revolution, the Arabic scene has been in turmoil. Like dominos, governments are being toppled one after the other, and the infectious itch for rights and freedom is spreading like wildfire. Rulers of the Arab world are now looking over their shoulders and sleeping with one eye open with all of their attention resting on Egypt, the cornerstone of the region. An important ally to the United States and a major player in the Middle-East, Egypt's ongoing revolution, if successful, can have serious repercussions on the region and consequently the world.

    Politically, it will serve as a potent catalyst to the ever growing tensions in the Arab streets, whom are already being emboldened by the actions of their fellow Egyptians. If this revolution succeeds in overthrowing the current Egyptian President Hosni Mubarak, then it is reasonable to expect similar uprisings to take place in other neighboring Arabic countries. Moreover, their peaceful coexistence with Israel, a country despised by most residents of the region, would hang in the balance of the outcome, with the most worrisome scenario being the loss of that peace, thus increasing the region's instability. The latter is very much dependent on who takes the reigns of this behemoth of a country. A question that has yet to find an answer due to the fact that this is a leaderless revolution. True the Egyptians may all share a similar cause, but their spear of freedom remains without a tip, and thus is a great cause for concern, as it will shape the direction of their policy internally and externally.

    On the economic front, it is one of the largest Arabic economies, with main exports varying from crude oil and agriculture to cotton and chemical products. But recently this crisis has caused capital runs out of the country, closed its banks, and shut down its financial markets all the while crippling the respective financial markets of their neighbors. Furthermore, it is the home of the Suez Canal, a crucial pillar in the international trade of goods and more importantly oil. Hence, its loss may lead to increases in shipping costs the world over, thus raising the prices of many goods namely those dependent on oil. With the world economy still recovering from the 2008 recession and inflation plaguing many countries in the region and elsewhere, this hike in prices could cause further unrest since the latter were the principal reasons for which the Jasmine revolution and the Egyptian uprising have taken place.

    So lets us watch closely how these events unfold, and let us hope they don't do anything they'll regret.


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