The strategic and economic effects of the fall in the oil price will be the No 1 concern of global leaders and thinkers at the Arab Strategy Forum, which opens on Sunday in Dubai.
The forum, held under the patronage of Sheikh Mohammed bin Rashid, Vice President of the UAE and Ruler of Dubai, brings together some of the most influential thought leaders in the world to discuss issues affecting the Arab World.
“The forum provides an international discussion platform to discuss political affairs on the Arab and international stage, and shed the light on the main economic issues that directly affect the present and future of the all people in the world,” said Mohammed Al Gergawi, Minister for Cabinet Affairs and head of the forum organising committee.
“The recent oil price fall is one of the most significant events to hit the region for some time,” one of the forum’s organising team told The National. “It affects governments, policymakers, businessmen and the man in the street. The forum is an excellent opportunity to hear what some of the best brains on the planet think about the fallout from falling oil prices and what it means for regional countries that produce oil.”
The American political expert Francis Fukuyama, best known for his 1992 book The End of History and the Last Man, will talk about the political state of the world and highlight major political trends in 2015, potential political changes and their effects.
The forum will also draw a picture of the future of the world economy in 2015 in a panel discussion run by Paul Krugman, winner of the 2008 Nobel Prize in Economics.
The economy and oil expert Abdalla El Badri, the former secretary general of Opec, and Henry Azzam, the former head of Deutsche Bank in the region, will discuss the economic effects of the recent fall in the price of crude, which if it persists may put budgetary and fiscal pressures on governments.
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