David Cameron teaching at NYU Abu Dhabi. Photo: David Cameron / Twitter
David Cameron teaching at NYU Abu Dhabi. Photo: David Cameron / Twitter
David Cameron teaching at NYU Abu Dhabi. Photo: David Cameron / Twitter
David Cameron teaching at NYU Abu Dhabi. Photo: David Cameron / Twitter


Teaching politics and disruption in Abu Dhabi


David Cameron
David Cameron
  • English
  • Arabic

February 23, 2023

I must admit: the 15 students from 10 countries sitting in front of me looked fairly shocked. They had signed up for a course about "Practising Politics and Government in the Age of Disruption" without knowing that their “Professor” was going to be a former UK Prime Minister.

I can’t claim to have been equally surprised. After all, I had agreed to this role. But looking at their faces made me ask: why, 34 years after leaving university as a student, had I returned as an (untrained) teacher? Why NYUAD, rather than my old University of Oxford? And why Abu Dhabi, in the UAE, thousands of miles from home?

I first came to know NYUAD a few years ago when speaking at Ideas Abu Dhabi, which took place at the brand new campus. Of course, the scale of the university, the facilities and buildings, all blow you away. That’s the Emirates for you – they never do anything by halves. But the real shock was the students. Selected by ability, so that family income – or rather lack of it – is no bar to entry, they come from over 100 countries. They are bright, they speak and write English superbly even though for most, it is their second language, and are ambitious and engaged about everything from politics to social and cultural issues.

Al Reem Island shot from Saadiyat Island. Victor Besa / The National
Al Reem Island shot from Saadiyat Island. Victor Besa / The National

Emiratis are the single biggest group, but currently, they do not account for more than one fifth of the students. For sure, Abu Dhabi’s partnership with NYU has attracted one of the world’s great higher education brands for the country, but it has built a university for the world. Every university boasts about the native intelligence of its students, but here one statistic stands out: if these young people were applying to NYU in Manhattan, they would be in the top 10 per cent of the intake.

First impressions matter, but not as much as time taken to understand what a country is trying to do

A big attraction for me was the concept of “J-Term” (where the J stands for January). In just over three weeks, visiting professors and guest "tutors" from across the world – offering an array of differing expertise and topics to study – work with students to pack in teaching, seminars, tuition and written work that would usually be spread across a four-month term. In my case, it is a series of seminars on some of the issues that have been driving politics in Europe for the past two decades: the financial crash, the migration crisis, the rise of populism, Brexit and, of course, the war in Ukraine.

We ask a lot of the students. In an era when young people (and their parents) question whether there is enough teaching, written work and feedback even at some of our best universities, my students have to tolerate my teaching for three hours every day – and then produce written work every two days that is discussed and marked almost as soon as it is handed in.

J-Term works for NYU and the teaching staff too. It means that NYU can attract a range of professors and guest tutors that might otherwise struggle to make the time commitment. I am joined here by former leaders of businesses and NGOs, journalists, writers, professors from other universities, and even one or two other politicians, including former PM Matteo Renzi from Italy.

While the teaching schedule is hectic, there is plenty of time left to think. I must have travelled to the UAE half a dozen times as a political leader and many more times since. But usually for a day or two, never more. First impressions matter, but not as much as time taken to properly understand what a country is trying to do. It is easy to see – and be bowled over by – the physical transformation. I am writing this in a flat in Mamsha, on Saadiyat Island, a part of the city that didn’t exist when I first came here as prime minister just over a decade ago. Next door is Jubail Island, where a whole new part of the city is being built from scratch, together with thousands of acres of new mangroves, as part of Abu Dhabi’s target of planting one million trees by 2030.

But it takes longer to grasp the scale of ambition when it comes to human capital. And NYU Abu Dhabi is a part of that. Not so much “build it and they will come”, more “build it and see how we grow.” The same goes for bringing to Abu Dhabi the Cleveland Clinic and Mayo Clinic to grow the health economy or the first Louvre outside Paris to grow the cultural one.

Of course, challenges remain. Maintaining stability in an unstable neighbourhood. Managing a hot climate in an overheating world. And building a cohesive society and meeting peoples’ natural aspirations in a country that is welcoming people from across the globe. I don’t understate any of those.

But one of the questions in my course about "Practising Politics in the Age of Disruption" is whether states and governments are capable of long-term thinking and delivering major projects that can transform their nation’s prospects. There is little doubt that when it comes to the UAE, the answer is a solid “yes”.

The Details

Article 15
Produced by: Carnival Cinemas, Zee Studios
Directed by: Anubhav Sinha
Starring: Ayushmann Khurrana, Kumud Mishra, Manoj Pahwa, Sayani Gupta, Zeeshan Ayyub
Our rating: 4/5 

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

The specs

Engine: 4.0-litre V8

Power: 503hp at 6,000rpm

Torque: 685Nm at 2,000rpm

Transmission: 8-speed auto

Price: from Dh850,000

On sale: now

Updated: November 13, 2023, 11:08 AM