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The land grab, finance capital, and food regime restructuring: the case of Egypt
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The land grab, finance capital, and food regime restructuring: the case of Egypt
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Journal Article
The land grab, finance capital, and food regime restructuring: the case of Egypt
2014
Overview
The role of Egyptian finance capital in acquiring (and attempting to acquire) agricultural land in southern neighbouring countries since the 2007-2008 food-fuel-financial crisis represents in part the southward expansion of the frontier in Egypt, or new socio-ecological spaces for heightened capital accumulation. This expansion, heralded by processes of financialisation, is the latest wave of corporate consolidation of the country's agri-food system. This paper offers an historical analysis of frontier making in modern-day Egypt and how it has been shaped by relations between Egypt and Sudan within a restructuring hegemonic state system, from the nineteenth century to present-day revolutionary times. Then, a case study of one Egyptian financial firm, Citadel Capital, is detailed to demonstrate that the 'global land grab' reflects food regime restructuring with the end of cheap food and oil - and greater food insecurity and political instability in Egypt and in southern neighbouring countries.
