Economics Report.Egypt is the biggestof the nations hit by recent protestsin North Africa and the Middle East.One of the causes of this spreading waveof popular dissatisfactionis a lack of economic progress.Egypt is not a major oil exporterand its economy is not big enoughto affect world economic growth.But important pipelines cross Egypt.And Egypt controls the Suez Canal.About eight percent of world shippingpasses through this linkbetween Europe and Asia.That includes two million barrelsof oil each day, mainly to Europe.Many experts say they expectthe canal to remain open.Still, concerns about the Suezhave pushed oil pricesto their highest levelssince two thousand eight.Fariborz Ghadar heads the Centerfor Global Business Studiesat Penn State University.He says poverty in Egypt remains high-- up to forty percent in some areas.Yet Egypt is not alone.Foreign investors worryabout corruption, mismanagementand security problemsacross North Africa and the Middle East.Every year millions of young peopleenter the job market.Populations are young and fast growing.In Egypt, the economygrew about five percent last year-- too little growthto create enough jobs.Fariborz Ghadar saysthe United States in a good yearcreates fewer than two million jobs.FARIBORZ GHADAR: "Europe and the UStogether generate three million jobs. Middle East aloneto keep their youth employedhas to generate six, seven,eight million jobs.So they have to producetwo or three timesas many jobs as the total USand total European economies."Fariborz Ghadar says protestscould spread to bigger economies.FARIBORZ GHADAR: "So the mismanagementof the Iranian economy couldin fact see a backlashof the Iranian populationbecause their food pricesare going up too.Their inflation is going up, too."The World Bank has praised Egyptfor cutting barriers to trade.But economist Deborah Hewittat the College of William & Maryin Virginia says private foreigninvestment remains weak.She says those investmentshave grown quicklyfrom almost nothing eight years ago.But they are still notenough to lift the economy.Professor Hewitt saysEgypt could look to reforms in Moroccothat have appealed to investors.Morocco has strengthenedits education system and investedin roads, ports and electric power.She says investments like these not only put people to work.They also create the basisfor future economic-- and political -- development.DEBORAH HEWITT: "With economic growthand expansion comes the desirefor more political freedom.And the two go hand in hand.They feed on each other."And that's the Special EnglishEconomics Report.written by Mario Ritter.