The economic hitmen have hit Egypt?Egypt's crisis is good news for the stock markets of the USA and EU (Investors pull $7bn from emerging funds)
Money is pouring out of Egypt, and out of countries like India, and into the USA, Europe and Japan.
Emerging markets attracted $95bn in 2010.
Egypt has changed things.
According to Cameron Brandt, a global markets analyst:
"Since the fourth quarter, the perception of where the value lies in the equity markets has shifted pretty decisively toward the developed markets.
"If you were thinking of making the switch, Egypt gave you a nudge."
In 2011, India equities are down 11%.
(Could this be linked to the BOMBAY ATTACKS?)
Many investors are switching their money to the US, Europe and Japan, in order to avoid riots and bombs.
Cairo by Marwa Morgan
Naguib Sawiris, the chairman of Egypt's Orascom Telecom, told the Financial Times (Business calls for unity alliance) that the protesters "are losing support in the street: many people are against their demand of President Mubarak to leave.
"They worry about stability and people want to go back to their business.
"Already people are short of food and money (and) businesses are going bust."
He estimates that the unrest could wipe 10 per cent off Egypt's gross domestic product.
At the beginning of 2011, the economy was expected to grow by about 6 per cent.
On Sunday Egypt's banks are set to reopen their doors
"Many analysts say that foreign capital could pour out of the country once the banking system reopens, but concerns over domestic bank runs have also been mounting as Egypt’s political upheaval continues."
The Aljazeera, Palestine and Israeli Deception
WINNERS AND LOSERS IN EGYPT
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