September 22, 2004
In recent days, news headlines are dominated by how the rapid growth of Asian countries like China and India is providing lots of opportunities to strike it rich. With the Iraq war and terrorism in the Middle East, one could be forgiven for overlooking the region as a potential growth market. Despite its many problems, the Middle East continues to hold a lot of promise for the world's capitalists. The region won't be spared from the culture of consumerism, as highlighted in an article by an Egyptian newspaper.
If we try to imagine what the cities of the Middle East will look like in 20 or 50 years time, we might predict that the majority will consist of creeping slums and rampant poverty, coexisting cheek by jowl with international hotels and large spaces dedicated to consumption and leisure time for those who can afford it. Disneyfied satellite cities in the desert will provide suburban annexes for the well-to-do. Modern communication systems and technologies, at least in the formal sector of the economy, will be as efficient as those of any Western country.
Read: Brave New Mall [Al-Ahram Weekly]
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