Amid the Major Global Changes.. Are we Ready for the Future?

We live today in a world of rapid developments, a world of permanent revolution in the production of information and chaos in the decision-making process, which has led to a rapid decline in our socio-political ecosystems as new economic alliances form and trade conflicts seem endless. It’s a world of many paradoxes.

While the power of communication via the internet has enabled man to strengthen knowledge, increase opportunities and lift himself out of his poverty, it led to frequent unrest, the spread of protests, and disrupted the wheel of life in many societies. Yes, we live in a world of contradictions.

The information flow, data and knowledge produced by man has Have dramatically increased. In one second, the equivalent of a library of 16 million books is produced. What humanity produced in the last two years is equal to nine times the human knowledge that was generated since the dawn of human history.

This information revolution has led to one billion people being lifted out of poverty. Yet, the gap between who owns and who does not own, and who knows and who does not know has increased. Today, one percent of people own more than 50 percent of the world's wealth. And yet, up to three billion people remain outside the internet era. It is as though they live on another planet.

In the next few lines, I will identify three major political and economic shifts that will shape the future of the coming decade.

The first shift is the formation of a new global economic centre of power. We are on the verge of a new global economic map, new ways of trade, huge trade blocs and trade wars of a new kind. China’s Belt and Road initiative, which is being implemented at the cost of approximately US$1 trillion, involves more than 130 countries around the world and is poised to change trade routes. It will generate additional growth in the volume of global trade estimated at six percent and add more than US$100 billion to China’s annual trade value.

Today, we have new global free zones exempt from customs duties that will affect the world economy soon. After years of negotiations, the largest open free zone between the European Union and Japan was signed last February, which includes a third of the global economy.

We must ask ourselves, where are we in all of this? What is the reality of intra-Arab trade? How can we be part of the new world? How can we affect the formation of the next economic map of the world?

The second shift will be in the battle for technology. What will lead the future is technology, and whoever controls information flow and production in the future will control the economic, social and political power in the world for decades to come.

Global conflicts and competition related to the possession and production of information have already begun. In the last decade, the number of technology patents in the US has grown by 41 per cent. However, in comparison, the number of Chinese technology patents has increased by 13,250 percent.

China today produces ten times the data generated by the United States annually. And in 2019, the Ministry of Education of China announced the introduction of 400 new majors for undergraduate students in the areas of artificial intelligence, big data, and robotics.

At the same time, we see other countries investing in AI, such as France which assigned 1.5 billion euros for its AI strategy. Also, India launched the AI for ALL strategy, to enable the largest number of Indian engineers to master the new century skills of data management and control.

Indeed, the economic dispute today between the two largest global economies is centred around technology. This conflict is causing a digital iron curtain between the two countries.

We have to ask - have Arab nations and countries prepared for the new reality? Do countries know that their sovereignty, their future and their information will be mortgaged to technologically superior nations if they do not take the initiative and move quickly towards the future?

The third shift revolves around the future of the Arab world. With the acceleration of changes, in what direction are our countries heading, and are we progressing or regressing? 

Although the Arab world faces various challenges, there are rising opportunities that promise a better future.

On the one hand, we have huge human potential; more than 100 million Arab youth who will enter the labor market in the next decade. We have multiple resources and great minds; however, we have a weak administration and poor management of our resources,  as His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai said before.

On the other hand, we will have a great future if we take advantage of the upcoming opportunities. Our region still has increasing strategic importance. It will remain a conduit for global trade, and US$44 billion will be invested in building new ports. Thus, Arab economies will be competitive on the global stage once again.

We are optimistic about the future of our region, and we have a strong hope that the Arab region will contribute to world’s growth and prosperity.