The question is whether Antony Blinken and others in US President-elect Joe Biden's foreign policy team will be willing to listen to people who don't share their worldview. Reuters
The question is whether Antony Blinken and others in US President-elect Joe Biden's foreign policy team will be willing to listen to people who don't share their worldview. Reuters
The question is whether Antony Blinken and others in US President-elect Joe Biden's foreign policy team will be willing to listen to people who don't share their worldview. Reuters
When Tony Blair became Britain’s prime minister in 1997, he famously called for “joined-up government”. If there is one thing that we will need in 2021, it is a lot more joined-up thinking – and not just in government but across sectors, societies and disciplines.
This applies most obviously to how the world deals with the Covid-19 pandemic. Sharing best practices and experiences of the vaccines currently being rolled out is going to be crucial over the next few months, although there will doubtless still be a minority of conspiracy theorists and "liberty lovers" determined not to learn any lessons from the year the globe shut down.
But joined-up thinking is needed in other areas as well, most especially in the field of international relations. Over the past 10 years or so, I have been well placed to see how often governments, academia, think tanks and the mainstream media operate in silos, and don’t talk to each other even when they are dealing with the same matters.
Great depths of expertise, won over many years, may essentially go wasted, or are appreciated only within a relatively small circle – because the minister is not interested in speaking to the professor, who in any case thinks the minister is a shifty politician and not worth talking to; the think tank fails to publicise its relevant report, while all the above look down on the journalist as a generalist who doesn’t really know the subject. In theory, all of those writing on, researching, and conducting international relations ought to be informing each other, adding to each others’ sums of knowledge from their unique vantage points.
CAMBERLEY, ENGLAND - APRIL 11: British Prime Minister Tony Blair inspects Officer cadets after they completed their training at the Royal Military Academy Sandhurst April 11, 2003 in Camberley. Some 409 cadets took part in the event and it is the first time ever a serving Labour Prime Minister took the inspection and salute. (Photo by Julian Herbert/Getty Images)
But there is huge resistance to this. A foreign ministry will frequently insist on relying only on its internal staff. Academics are often more concerned with being published in prestigious journals with minuscule readerships than educating a wider public. The think tank regards a successful conference as an end in itself, and appears to imagine that the insights aired will be spread by some kind of osmosis. The op-ed columnist has made his mind up a long time ago; why should he or she consult further?
Even within these silos there can be further barriers to dialogue. The grand theorists of “International Relations” and the local specialists of “Area Studies” have often operated as though they had little to say to each other. In all of these instances, opportunities for greater understanding are missed because many are overly convinced that their own particular lens is the best through which to see the world.
In Asia this mentality is a cause for concern about President-elect Joe Biden's foreign policy team. Mr Biden's picks for secretary of state and national security adviser, Antony Blinken and Jake Sullivan, are experienced, intelligent and well-regarded. But they – along with Mr Biden's plan for a "Summit For Democracy" and all the talk of human rights – arouse suspicion that the administration will be characterised by an idealistic liberal internationalism that could shade into interventionism.
Will the Biden White House listen enough to hard-headed foreign policy realists, to historians such as Hugh Peyman, who locate the China of today within the context of its thousands of years of culture and Confucianism, to outstanding regional analysts such as Amitav Acharya, Kishore Mahbubani and Bilahari Kausikan, and to smaller nations that want to see give and take rather than confront based on ideological conviction?
This is not to suggest that anyone in Mr Biden’s team discard their perspectives (that might be welcome, but would be too much to ask). But it is to hope that they are truly well-informed, which means being prepared to listen to experts with whom they may be predisposed to disagree.
Joined-up thinking – acknowledging that Muammar Qaddafi had been key to Libya's stability – might have avoided the situation the country is in today. EPA
Mr Biden has first-hand knowledge of the dangers of unjoined-up thinking. When he was Barack Obama’s vice president in 2011, he and then secretary of defence Robert Gates both opposed military intervention in Libya. Mr Obama overrode them, and declared that “the dark shadow of tyranny has been lifted” after Muammar Qaddafi’s death. But far from becoming a flourishing democracy, the stability that the late “brotherly guide” had imposed with such brutality has so dissipated that the slave trade has now been re-established in the country.
I see how often governments, academia, think tanks and the mainstream media operate in silos
A little joined-up thinking – acknowledging that Qaddafi had kept fractious tribes from warring and cracked down hard on homegrown Islamist extremists – might have stayed Mr Obama's hand and avoided the disastrous abyss into which Libya has since fallen. Similar concern about the longer-term ramifications led many of us to oppose the 2003 US-led invasion of Iraq and caution against excessive western optimism in the early days of the Arab uprisings a decade ago.
The approach I am proposing will be hard for some. Those who believe, for instance, that the western model of liberal democracy is the only legitimate form of government, will find it difficult not to see China solely as a country that needs “fixing”. Too many already take that line. An Asian analyst working in Washington recently told me that anyone who tries to understand Beijing’s point of view there risks being labelled a “panda lover”.
Such arrogance needs to be tempered, and can be by consulting widely – not just with ideological opponents, but with the vast array of people who have spent careers writing about different regions, theories, histories, and cultures, from highbrow academics to hard-scrabble reporters, and more: to novelists, artists and all those who endeavour to understand the human condition in its numerous nuances.
You may not change your mind. But you may have it opened, if only just a crack. That, to me, is the value of “joined-up thinking” in an age of unquestioning partisanship.
Sholto Byrnes is an East Asian affairs columnist for The National
Decide on your emergency fund target and once that's achieved, assign your savings to another financial goal such as saving for a house or investing for retirement.
Decide on a financial goal that is important to you and put your savings to work for you.
It's important to have a purpose for your savings as it helps to keep you motivated to continue while also reducing the temptation to spend your savings.
- Carol Glynn, founder of Conscious Finance Coaching
First Job: Abu Dhabi Department of Petroleum in 1974
Current role: Chairperson of Al Maskari Holding since 2008
Career high: Regularly cited on Forbes list of 100 most powerful Arab Businesswomen
Achievement: Helped establish Al Maskari Medical Centre in 1969 in Abu Dhabi’s Western Region
Future plan: Will now concentrate on her charitable work
When: The one-off Test starts on Friday, May 11 What time: Each day’s play is scheduled to start at 2pm UAE time. TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.
A recent survey of 10,000 Filipino expatriates in the UAE found that 82 per cent have plans to invest, primarily in property. This is significantly higher than the 2014 poll showing only two out of 10 Filipinos planned to invest.
Fifty-five percent said they plan to invest in property, according to the poll conducted by the New Perspective Media Group, organiser of the Philippine Property and Investment Exhibition. Acquiring a franchised business or starting up a small business was preferred by 25 per cent and 15 per cent said they will invest in mutual funds. The rest said they are keen to invest in insurance (3 per cent) and gold (2 per cent).
Of the 5,500 respondents who preferred property as their primary investment, 54 per cent said they plan to make the purchase within the next year. Manila was the top location, preferred by 53 per cent.
A timeline of the Historical Dictionary of the Arabic Language
Starring: Baneen Ahmad Nayyef, Waheed Thabet Khreibat, Sajad Mohamad Qasem
Rating: 4/5
Hili 2: Unesco World Heritage site
The site is part of the Hili archaeological park in Al Ain. Excavations there have proved the existence of the earliest known agricultural communities in modern-day UAE. Some date to the Bronze Age but Hili 2 is an Iron Age site. The Iron Age witnessed the development of the falaj, a network of channels that funnelled water from natural springs in the area. Wells allowed settlements to be established, but falaj meant they could grow and thrive. Unesco, the UN's cultural body, awarded Al Ain's sites - including Hili 2 - world heritage status in 2011. Now the most recent dig at the site has revealed even more about the skilled people that lived and worked there.
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.”
Kopa Trophy (Best player under 21 – Men’s) Lamine Yamal (Barcelona / Spain)
Best Young Women’s Player Vicky López (Barcelona / Spain)
Yashin Trophy (Best Goalkeeper – Men’s) Gianluigi Donnarumma (Paris Saint-Germain and Manchester City / Italy)
Best Women’s Goalkeeper Hannah Hampton (England / Aston Villa and Chelsea)
Men’s Coach of the Year Luis Enrique (Paris Saint-Germain)
Women’s Coach of the Year Sarina Wiegman (England)
Company profile
Date started: December 24, 2018
Founders: Omer Gurel, chief executive and co-founder and Edebali Sener, co-founder and chief technology officer
Based: Dubai Media City
Number of employees: 42 (34 in Dubai and a tech team of eight in Ankara, Turkey)
Sector: ConsumerTech and FinTech
Cashflow: Almost $1 million a year
Funding: Series A funding of $2.5m with Series B plans for May 2020
Crops that could be introduced to the UAE
1: Quinoa
2. Bathua
3. Amaranth
4. Pearl and finger millet
5. Sorghum
What are NFTs?
Are non-fungible tokens a currency, asset, or a licensing instrument? Arnab Das, global market strategist EMEA at Invesco, says they are mix of all of three.
You can buy, hold and use NFTs just like US dollars and Bitcoins. “They can appreciate in value and even produce cash flows.”
However, while money is fungible, NFTs are not. “One Bitcoin, dollar, euro or dirham is largely indistinguishable from the next. Nothing ties a dollar bill to a particular owner, for example. Nor does it tie you to to any goods, services or assets you bought with that currency. In contrast, NFTs confer specific ownership,” Mr Das says.
This makes NFTs closer to a piece of intellectual property such as a work of art or licence, as you can claim royalties or profit by exchanging it at a higher value later, Mr Das says. “They could provide a sustainable income stream.”
This income will depend on future demand and use, which makes NFTs difficult to value. “However, there is a credible use case for many forms of intellectual property, notably art, songs, videos,” Mr Das says.
SPECS
Engine: Two-litre four-cylinder turbo Power: 235hp Torque: 350Nm Transmission: Nine-speed automatic Price: From Dh167,500 ($45,000) On sale: Now
Abu Dhabi GP schedule
Friday: First practice - 1pm; Second practice - 5pm
Saturday: Final practice - 2pm; Qualifying - 5pm
Sunday: Etihad Airways Abu Dhabi Grand Prix (55 laps) - 5.10pm
How to wear a kandura
Dos
Wear the right fabric for the right season and occasion
Always ask for the dress code if you don’t know
Wear a white kandura, white ghutra / shemagh (headwear) and black shoes for work
Wear 100 per cent cotton under the kandura as most fabrics are polyester
Don’ts
Wear hamdania for work, always wear a ghutra and agal
Buy a kandura only based on how it feels; ask questions about the fabric and understand what you are buying