The global economic outlook for 2019 remains unclear as changes take place rapidly around the world. Arab and international experts attending the Arab Strategy Forum voiced opinions that span the wide-ranged specterrum between optimism and pessimism.
Dubai Ruler Sheikh Mohammed bin Rashid Al Maktoum expressed hope that 2019 will be a year for both opportunity and challenge.
“The year 2019 will witness many opportunities and challenges, but we are optimistic about political, economic and humanitarian levels,” Sheikh Mohammed said at the event.
"The world’s economy is in constant movement. However, we do not rely on reactions, but we try to create our reality and future. The region has many plans, projects and opportunities, and we hope that 2019 will witness the launch of these projects,” he said.
“Economic and political opportunities are pushing us to think about all options, and we have chosen development, dialogue and advancement. The ability to anticipate the future is an ability to adapt to its variables and benefit from its opportunities,” he added.
Sheikh Mohammed bin Rashid made this statement while attending some of the activities at the Dubai-held forum, which successfully attracted regional and international political and economic figures, as well as leading thinkers, strategic analysts and policymakers.
Attendees discussed global developments and participated in predicting the economic and political future of the Arab region and the rest of the world.
Former US Secretary of Treasury Jack Lew said that governments are now focusing on more domestic matters rather than international issues, making global cooperation harder at a potential time of crisis.
“If there were a global economic crisis of some sort, one has to ask whether finance ministers, central bank governors, leaders could get together and make the kinds of judgments that were made in 2008, 2009, and 2010. This is not a moment where governments are as open to reaching out and taking action to help others,” he said.
His comments were echoed by other experts who were all speaking at the Arab Strategy Forum where concerns about governments taking more nationalist approaches were a running theme in every panel discussion.
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