Friday , July 30 2021

Arab summit and the Arab economic crisis

Abdullah Sadeq Dahlan

The Arab summit of that day in Tunisia and its agenda will discuss important political and political issues, and most importantly, the meeting in Tunisia to ensure the stability of Tunisia in the Arab and Muslim world and its return to Arab action and Islamic in support of the Arab decision-making unit. And, in the context of global economic conditions, they move in the midst of global concern for the possibility of facing a global recession in global markets due to differences in American-Chinese trade, which had some characteristics for last week when the stock market fell The decline in large amounts due to the announcement of disappointing economic data in Europe and the United States, which investors have been concerned about and has invested in secure investments in stock market alternatives, especially to the investment in gold, especially after the great fall of the dollar, and I am sure that this recession and these fears are due to the lack of clarity. The results of the meetings between the two parties are ambiguous in the details of the " agreement, in addition to the risks of the European Union's exit, which has caused pessimism and negatively affected the yields of bonds in European banks and in the East unites united The government of the bonds fell below the Treasury bills, which created 3 months for the first time since 2007.

Stocks in emerging and emerging global markets fell 1.5 percent last Friday, the worst drop in 2018, according to the MSCI World Index.

In Europe, the biggest weekly decline in European equities occurred last week. In Asia, the Nikkei index in Japan recorded the largest daily decline in the last three months and, as a result of the deterioration of the bonds and equities, investors became gold.

Arab concern is growing day by day in fear of higher unemployment rates than currently high rates, high rates of poverty, declining economic growth rates and, thus, reducing sustainable development due to accumulated budget deficits. Through the imposition of new taxes or the increase of fiscal taxes or the reduction of subsidies for some goods and services, and the result of the conflicts and the political differences in some Arab countries have diminished the development and the governments of these countries They can not reconstruct and restore what has been demolished and produce migrants or displaced people. Millions of displaced persons and migrants marched to neighboring countries or outside Arab countries, particularly in Turkey and Europe, leaving behind a social, economic and political crisis. As a result of these difficult conditions in the Arab world, Arab peoples are waiting for the decisions of the Arab summit. We hope that the Arab Summit will emerge with economic decisions that will support the economic development of Arab countries, especially the unemployed and the poor. I personally wish that the economic dimension of the Arab summits is fundamental because the situation for the Arab world economy is the biggest dilemma facing some Arab leaders, which is a major crisis despite the presence of Arab funds and the Islamic Bank and others in support of sustainable development.

Certainly, the political tensions in many Arab countries, including North Africa and western Asia, led to the collapse and depletion of the economies of these countries. If the Arab League, represented by Arab leaders, did not face an emergency plan to curb the political tensions that led to wars among peoples after their division. The economic crisis will continue and will become social crises that may have existed for a long time.

That is why I hope to develop a contingency plan to save the economies of some Arab countries, it has been exhausted economically, especially those that are taking place after the internal wars.

The role of the Kingdom of Saudi Arabia, led by the Custodian of the two sacred mosques, King Salman bin Abdulaziz and inheriting prince Mohammed bin Salman, in supporting the economies of Arab countries and the poor is important and essential, a policy taken by the Kingdom for many years and shows its impact on the ground in the projects they adopted, Created by the Kingdom in these countries, I hope that the Summit will take place with an important economic decision that will restore the hope of the people for the reconstruction of their economies.

I also hope that stability and security will continue in Tunisia and that green Tunisia will once again attract both Arab and European tourism as in the past.

Source link