Abu Ghazala Cautions on Global Recession and Urges Jordan to Strengthen Key Sectors
The founder of Talal Abu-Ghazaleh Global, Dr. Talal Abu-Ghazaleh, stated that the world is facing a pivotal phase that could lead to a period of "great depression" in the global economy due to increasing competition between the United States and China, along with the declining ability of international institutions to manage conflicts. He warned that these shifts will impact the countries in the region, with heightened risks of greater tensions between Washington and Beijing, particularly concerning the Taiwan issue. He also emphasized that the current international system is unable to effectively enforce its rules, which prompts countries to reevaluate their strategies to strengthen their national capacities. This includes the importance of investing in sectors such as food, medicine, technology, and education, and achieving self-sufficiency in these areas. Moreover, he called for expanding Arab economic cooperation to help confront international challenges.
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