????埃及目前正經歷這種現象的消極面，原因在于它羸弱的體制和領導力的缺失；而且這個局勢被少數顛覆勢力所利用，他們為追求自身利益而不惜破壞國家利益。但是我們不應該失去對潛在積極面的信心。確實，自2011年1月以來，無論是爭取健康、教育權力還是支持小型企業家，這些活動已經明顯得到了民眾的參與。

????接下來的幾周，令人痛心的危險局勢仍將籠罩埃及，而且外界對此也是愛莫能助。鑒于這一情況，埃及可能會傾向于放棄通向民主的旅程。但是我們不能放棄。

????最終，合理體制的出現和更有力的領導將發揮關鍵的作用，從而將個人的自主激勵轉化為有益的民主目標。埃及的盟友需要做好準備，支持這個進程，同時重新制定對埃策略和廣泛的合作伙伴關系。（財富中文網）

????默罕默德?A?艾爾-埃里安是太平洋投資管理公司首席執行官兼首席投資官。

????譯者：翔???

????Egypt is currently experiencing the downside of this phenomenon due to weak institutions and inadequate leadership; and the situation is being exploited by a disruptive few pursuing interests that undermine national well-being. But we should not lose sight of the potential upside. Indeed, it is already apparent in the surge since January 2011 in civic engagement, be it in health and education or in support for small entrepreneurs.

????With Egypt sadly facing a dangerous situation in the weeks ahead, and with outsiders unable to help, it is tempting to give up on the country's journey to democracy. We shouldn't.

????The eventual emergence of proper institutions and better leadership will play a critical role in channeling individual empowerment into productive democratic ends. Egypt's friends need to get ready to support this process with a revamped approach and broad partnerships.

????Mohamed A. El-Erian is the CEO and co-chief investment officer of PIMCO.