The global economy faces unique uncertainties. China’s reopening is set to provide a welcome boost to global growth, offsetting weakness in Europe and a lingering recession risk in the US. But China’s post Covid pivot could bring inflationary pressures at exactly the moment the US Federal Reserve and other central banks are bringing them back under control.
Look beyond China-US-Europe centric headlines, however, and you can uncover a major shift in the existing economic order: In a world defined by a 19th century-style battle for resources, more assertive economic statecraft and an eagerness for more resilient and geopolitically neutral trade partners, the economic nexus between the Gulf, India, and Southeast Asia is rising in global importance–and looks set to drive global growth and optimism into the next decade.
In the Gulf, Qatar and its neighbors are capitalizing on the opportunity. The region’s sovereign wealth funds, flush with oil and gas revenue from the energy crisis, are competing to fill the $3 trillion liquidity gap left by Wall Street’s retreat. And with global supply lines rerouting and the epicenter of global growth shifting Eastward, the Gulf is increasing the pace of reforms and opening up to meet the world on its terms.
Against this backdrop, the 3rd Qatar Economic Forum, Powered by Bloomberg, will shine a light on the rising south-to-south economy and the new growth opportunities it presents to the global business community. Promoting both established viewpoints and emerging voices from around the world, the Forum will identify the latest economic trends that will drive us towards a new global growth story.
