(contents)
Chapter 1. Wave of nationalism and socialism (1945-1956) (21)
037. Both East and West blocks were at the mercy of Nasser (2/3)
Nasser, then 34 years old, gave the post of
President and Prime Minister to his boss Major General Mohammed Naguib. In
1954, however, he took office as president himself through power struggle.,
Nasser came into the power and made Egypt the leader of the Arab world. He advocated
Pan-Arabism. Pan-Arabism is an ideology to combine socialism with Arab
nationalism. It was originated by the Ba’ath Party in Syria. By nature,
Pan-Arabism was hostile to British and French colonial imperialism and US
capitalism, but familiar to the Soviet socialism.
Idealist Nasser aimed the nationalization
of the Suez Canal. The Suez Canal opened in the middle of the 19th century by
Ferdinand de Lesseps of France. Later the UK has acquired 44% of the Canal’s
equity from Egypt who suffered debt due to lack of fiscal discipline. Financing
for equity was burdened by Jewish Lord Rothschild. Until the end of World War
II, UK and France had controlled the Suez Canal jointly.
(To be continued ----)
(From an ordinary citizen in the cloud)
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