Switzerland is a small country, with no seas or oceans, few natural resources, but occupies a Leading place in the world including: the banking sector, the pharmaceutical industry, precision machinery, watches, building materials, sweets, spinning and weaving, in addition to tourism.
Lebanon is different from Switzerland
by Abdel Hamid Badawi
Article Of The Day
Friday ,07 August 2020
Switzerland has maintained that traditional strength through a sound financial architecture, a strong industrial base, and a judicious and fair distribution of income. On the other hand, Lebanon is called Switzerland of the Arabs, but its economy depends on tourism, the provision of banking services, and transfers of those working abroad, and its economy has remained dependent primarily on the aid and assistance of the Arab Gulf countries.
Yet, when the Arab aid for Lebanon stopped, its fragile economy was exposed and the value of the Lebanese Lira deteriorated sharply until the dollar reached 8,000 Lira. This is a wake-up call for the rest of the countries that depend on Gulf loans and aid, which they spend in pride and can stop anytime without even a warning.