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Globalisation is here to stay
Globalisation is very much here to stay and protectionism could prove hugely counter-productive in an era of globalised data, knowledge, talent and ideas: That’s the precise and sensible message from the World Economic Forum’s (WEF) Global Future Councils held in Dubai.

The primary purpose of the Annual Meeting of the Global Future Councils is to convene the world’s best network of experts to identify new ideas and models that can be applied to critical global challenges. Implementing such worthy ideas can go a long way in helping the entire global community.

Borge Brende, President of the World Economic Forum, rightly outlined that while globalisation cannot be stopped, it can be improved. It should be more inclusive, sustainable and job creating. There is a need to stop seeing trade as a weapon but instead see it as a strong, positive force for inclusive, poverty-eradicating growth.

Digital trade already accounts for 12% of international trade, and data flows are predicted to increase another fivefold by 2022.

Mohammad Abdullah Al Gergawi, UAE Minister of Cabinet Affairs and The Future and Co-chair of the Global Future Councils, has well elucidated that thanks to globalisation, opportunities have increased. Digital transactions are expected to create $4 trillion over the next two decades. Supported by the forces of globalisation, companies such as Google, Amazon and Apple have changed the world.

Increased international cooperation is the need of the hour. It should not be forgotten that more than a million men and women from 125 countries have served in peacekeeping missions over the last 70 years to prevent the spread of crises, protect civilians and support political processes.

Challenges like climate change, digital transformation of economies and migration cannot be handled anymore in isolation. The world community needs to remain united and address such issues together. Multilateral solutions to global problems pump confidence and add strength to humanity.

Global GDP has doubled since 1990, but further global integration, while inevitable, must be accompanied by structural reforms that enable greater international cooperation as well as policies that support more inclusive, sustainable societies, as experts point out.

The message from His Highness Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President, Prime Minister and Ruler of Dubai is inspiring: “The UAE will remain a key platform for discussions and debate on the future of humanity. It will remain a model and an open lab for everything new in the world.”


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