Donald Trump and Joe Biden are likely to pursue widely different economic policies in power, and this will have an impact on share prices. AP
Donald Trump and Joe Biden are likely to pursue widely different economic policies in power, and this will have an impact on share prices. AP
Donald Trump and Joe Biden are likely to pursue widely different economic policies in power, and this will have an impact on share prices. AP
Donald Trump and Joe Biden are likely to pursue widely different economic policies in power, and this will have an impact on share prices. AP

Is moderate politics about to get its moment?


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This week, we got a glimpse of what the post-pandemic language of politics could sound like at the fourth World Economic Forum Sustainable Development Impact Summit. The online meeting of about 3,800 people from government, business and civil society, from more than 140 countries, was an example of the centre of the spectrum at a time when politics is starkly polarised across the world.

There is an urgency to find common ground among nations, organisations and corporations. Achim Steiner of the United Nations Development Programme warned the summit that the Covid-19 pandemic has not really changed the future yet "but it has very much revealed the present" and the stark problems we face.

As the forum heard, the economic fallout from the pandemic risks plunging half a billion more people into extreme poverty. It would be the first time that poverty has increased globally in three decades and would nearly double the 700 million people already living below the World Bank-defined threshold of $1.90 a day, the forum said.

Jordan's King Abdullah has spoken movingly about the merits of re-globalisation. AFP
Jordan's King Abdullah has spoken movingly about the merits of re-globalisation. AFP

To meet this challenge and others, such as the climate crisis, economic inequality and the risks of rapidly developing technology, will require the kind of collective effort – with all of the compromises it would entail – that has been shunned in the past decade as populism and nationalism have re-emerged to challenge the paradigm that globalisation was a largely beneficial trend.

Jordan’s King Abdullah perhaps put it best at the opening of the summit.

“The way forward must be rooted in a re-globalisation that fortifies the building blocks of our international community by enabling our countries to strike a balance between self-reliance and positive interdependence, enabling us all to jointly mark a holistic response to all crises facing our world,” he said. “A response that strengthens our global economy but also addresses inequalities. A response that leads to technological and industrial progress but also ensures the sustainability of our shared environment.”

These are words that encourage inclusion while recognising that countries will always put self-interest first. We cannot be naive about that point, and rather we should see it as a strength to be harnessed. The pandemic is showing us once again that no nation can expect to remain immune to the problems that occur beyond their geographic or ideological boundaries.

Similarly, the issues created by the growing digitalisation of societies cannot be dealt with unless there is a co-operative approach. Fabrizio Hochschild, UN Under-Secretary General, conceded to the forum that few had anticipated that digital innovations such as social media platforms “would leave us more polarised or undermine our democracy". These are unintended consequences, he said, and countries are trying to catch up. "Technologies don’t recognise borders," he added.

However, now that we are aware of these risks, we cannot continue to accept them. "The tech sector is pushing forward the 21st century, but has 19th-century values," he said. "My plea is let’s be more conscious of what we’re doing for society, increasing polarisation or decreasing it, increasing equality or decreasing it."

Equally, other problems are also a matter of mindset. Alan Jope, chief executive of Unilever, said that measures of success remain solely financial, which is “bizarre and it's outdated”. He added that “21st-century tools for a 21st-century environment” are needed.

“The definition of success for a country, which is usually GDP, and all our traditional financial metrics are built on environmental degradation and growing inequality,” he pointed out.

Of course, the hard part will be delivering on these words. In the meantime, we need to ensure that more people hear them. The antidote to divisive and confrontational politics is to deliver the message that compromise is a matter of survival and self-interest, which is the most powerful force for change.

Yo-Yo Ma paid rich tribute to the social innovators who were recognised by the Schwab Foundation at the World Economic Forum. AFP
Yo-Yo Ma paid rich tribute to the social innovators who were recognised by the Schwab Foundation at the World Economic Forum. AFP
The hope that we can have a world that is more caring and equitable is clearly in evidence even if on most days it doesn't sound like it is

People may not be ready to hear that yet. We may not hit bottom until well after next month's US presidential election. The discourse will only become uglier in the next few weeks and months as long-standing issues of race and inequality in America have their reckoning.

At some point, though, as we see more evidence of how a collaborative approach will ease our suffering – such as with the multinational initiatives to find a vaccine for the coronavirus – an appetite for a discussion that is more conciliatory could begin to emerge.

On the ground in many parts of the world, people are taking this approach. As cellist Yo-Yo Ma told social innovators being recognised by the Schwab Foundation during the summit: "You have improved the lives of people around you in the world because you care. When people are hurt, you hurt. You care because you have been able to listen to what the needs are of people."

The hope that we can have a world that is more caring and equitable is clearly in evidence even if on most days it doesn’t sound like it is. Perhaps soon we will begin to hear more about that hope above the noise and tumult.

Mustafa Alrawi is an assistant editor-in-chief at The National

SPEC%20SHEET%3A%20SAMSUNG%20GALAXY%20Z%20FLIP%204
%3Cp%3E%3Cstrong%3EDisplay%3A%20%3C%2Fstrong%3EMain%20%E2%80%93%206.7%22%20FHD%20Dynamic%20Amoled%202X%2C%202640%20x%201080%2C%2022%3A9%2C%20425ppi%2C%20HDR10%2B%2C%20up%20to%20120Hz%3B%20cover%20%E2%80%93%201.9%22%20Super%20Amoled%2C%20512%20x%20260%2C%20302ppi%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EProcessor%3A%3C%2Fstrong%3E%20Qualcomm%20Snapdragon%208%2B%20Gen%201%2C%204nm%2C%20octa-core%3B%20Adreno%20730%20GPU%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EMemory%3A%3C%2Fstrong%3E%208GB%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ECapacity%3A%3C%2Fstrong%3E%20128%2F256%2F512GB%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPlatform%3A%3C%2Fstrong%3E%20Android%2012%2C%20One%20UI%204.1.1%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EMain%20camera%3A%3C%2Fstrong%3E%20Dual%2012MP%20ultra-wide%20(f%2F2.2)%20%2B%2012MP%20wide%20(f%2F1.8)%2C%20OIS%2C%20portrait%2C%20super%20slo-mo%2C%20hyperlapse%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EVideo%3A%3C%2Fstrong%3E%204K%4030%2F60fps%2C%20full-HD%4030%2F60fps%2C%20HD%4030fps%3B%20slo-mo%40240%2F960fps%3B%20HDR10%2B%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EFront%20camera%3A%3C%2Fstrong%3E%2010MP%20(f%2F2.4)%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EBattery%3A%3C%2Fstrong%3E%203700mAh%2C%2025W%20fast%20charging%2C%2015W%20wireless%20charging%2C%20reverse%20wireless%20charging%2C%20'all-day'%20life%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EConnectivity%3A%3C%2Fstrong%3E%205G%3B%20Wi-Fi%2C%20Bluetooth%205.2%2C%20NFC%20(Samsung%20Pay)%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EI%2FO%3A%3C%2Fstrong%3E%20USB-C%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ECards%3A%3C%2Fstrong%3E%20Nano-SIM%20%2B%20eSIM%3B%20no%20microSD%20slot%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EColours%3A%3C%2Fstrong%3E%20Bora%20purple%2C%20graphite%2C%20pink%20gold%2C%20blue%3B%20Bespoke%20Edition%20in%20select%20countries%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EIn%20the%20box%3A%3C%2Fstrong%3E%20Flip%204%2C%20USB-C-to-USB-C%20cable%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EPrice%3A%3C%2Fstrong%3E%20Dh3%2C799%20%2F%20Dh3%2C999%20%2F%20Dh4%2C449%3C%2Fp%3E%0A
The specs
Engine: 2.0-litre turbo 4-cyl

Transmission: eight-speed auto

Power: 190bhp

Torque: 300Nm

Price: Dh169,900

On sale: now 

UAE currency: the story behind the money in your pockets
How to turn your property into a holiday home
  1. Ensure decoration and styling – and portal photography – quality is high to achieve maximum rates.
  2. Research equivalent Airbnb homes in your location to ensure competitiveness.
  3. Post on all relevant platforms to reach the widest audience; whether you let personally or via an agency know your potential guest profile – aiming for the wrong demographic may leave your property empty.
  4. Factor in costs when working out if holiday letting is beneficial. The annual DCTM fee runs from Dh370 for a one-bedroom flat to Dh1,200. Tourism tax is Dh10-15 per bedroom, per night.
  5. Check your management company has a physical office, a valid DTCM licence and is licencing your property and paying tourism taxes. For transparency, regularly view your booking calendar.
Top tips

Create and maintain a strong bond between yourself and your child, through sensitivity, responsiveness, touch, talk and play. “The bond you have with your kids is the blueprint for the relationships they will have later on in life,” says Dr Sarah Rasmi, a psychologist.
Set a good example. Practise what you preach, so if you want to raise kind children, they need to see you being kind and hear you explaining to them what kindness is. So, “narrate your behaviour”.
Praise the positive rather than focusing on the negative. Catch them when they’re being good and acknowledge it.
Show empathy towards your child’s needs as well as your own. Take care of yourself so that you can be calm, loving and respectful, rather than angry and frustrated.
Be open to communication, goal-setting and problem-solving, says Dr Thoraiya Kanafani. “It is important to recognise that there is a fine line between positive parenting and becoming parents who overanalyse their children and provide more emotional context than what is in the child’s emotional development to understand.”
 

Studying addiction

This month, Dubai Medical College launched the Middle East’s first master's programme in addiction science.

Together with the Erada Centre for Treatment and Rehabilitation, the college offers a two-year master’s course as well as a one-year diploma in the same subject.

The move was announced earlier this year and is part of a new drive to combat drug abuse and increase the region’s capacity for treating drug addiction.

BMW M5 specs

Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor

Power: 727hp

Torque: 1,000Nm

Transmission: 8-speed auto

Fuel consumption: 10.6L/100km

On sale: Now

Price: From Dh650,000

In-demand jobs and monthly salaries
  • Technology expert in robotics and automation: Dh20,000 to Dh40,000 
  • Energy engineer: Dh25,000 to Dh30,000 
  • Production engineer: Dh30,000 to Dh40,000 
  • Data-driven supply chain management professional: Dh30,000 to Dh50,000 
  • HR leader: Dh40,000 to Dh60,000 
  • Engineering leader: Dh30,000 to Dh55,000 
  • Project manager: Dh55,000 to Dh65,000 
  • Senior reservoir engineer: Dh40,000 to Dh55,000 
  • Senior drilling engineer: Dh38,000 to Dh46,000 
  • Senior process engineer: Dh28,000 to Dh38,000 
  • Senior maintenance engineer: Dh22,000 to Dh34,000 
  • Field engineer: Dh6,500 to Dh7,500
  • Field supervisor: Dh9,000 to Dh12,000
  • Field operator: Dh5,000 to Dh7,000
Ferrari 12Cilindri specs

Engine: naturally aspirated 6.5-liter V12

Power: 819hp

Torque: 678Nm at 7,250rpm

Price: From Dh1,700,000

Available: Now

What the law says

Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.

“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.

“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”

If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.