Word: nasserism
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Some economists in Egypt and elsewhere question spending $1 billion to $1.5 billion to enlarge a facility already made partially obsolete by the new pipelines and bigger tankers. Others predict that the "Nasser plan," calling for improvements to be carried out in two four-year stages under 40% foreign financing, will pay off with annual revenues from tolls of $600 million, compared with a pre-1967 income of $250 million a year. Egyptian officials claim that they will have no trouble raising the capital if they go ahead with the project. "We are already getting offers," says a Canal Authority...
Gaddafi, who fancies himself the prophet of Arab unity in the tradition of the late Gamal Abdel Nasser, undoubtedly saw more than mere economic advantage to joining with Tunisia. He may have also viewed it as a means of punishing Egypt for backpedaling on its planned unification with Libya and for not even consulting him before launching the October war against Israel. Gaddafi was so miffed at Egypt's attitude that he refused to attend last November's Arab summit in Algeria...
This week TIME opens a new bureau in the Middle East. The bureau will be located in Cairo, and its chief will be Wilton Wynn, a Rome correspondent for TIME since 1962. The author of Nasser of Egypt: The Search for Dignity, Wynn has had long and varied experience in the Middle East...
...Many times since 1945," Wynn says, "I have seen the tension between the Egypt of heroism and great exploits- which existed under Nasser- and the Egypt that struggles for its daily existence. Under Sadat, one gets the impression that the emphasis is on the very practical demands of survival and more bread for the people. This evolution is due in part to the difference in style of the two men, but it results primarily from the obvious needs of Egypt today...
...Israel with most of the arms and diplomatic support it needed. The Soviet Union, evidently sharing the United States' view, was happy not only to replace the U.S. as Egypt's supplier of arms and help with the Aswan Dam when John Foster Dulles grew disgusted with Egyptian president Nasser's neutralism and nationalizations, but also to go the United States one better, sending technicians where the United States sent arms...