Page 299 - INVESTOPIA ENGLISH PR REPORT - International Part 2

economy, hospitality, sports and aviation. Attendees who witnessed these sessions
included investors, economists, leading government officials, policy makers, and
entrepreneurs from around the world.

One of the morning panel sessions considered macroeconomics in the context of where
the global economy is moving post COVID-19, how a successful COP28 is setting all
countries on a sound footing to tackle climate change, what the impact of the outcome
of the U.S. Presidential election will be; and why the global economy remains resilient to
geopolitical shocks.

Under the theme New Economic Frontiers Unveiled: Navigating the Unknown, the panel
discussed factors driving the new economy sectors, markets and the role of
governments and the private sector in optimising economic growth.

Participants in this session were Dr. Mahmoud Mohieldin, Executive Director of the
International Monetary Fund; Dr. François Bourguignon, Honorary President of the Paris
School of Economics; and Dr. Nathan Sheets, Chief Economist at Citi; and John
Defterios, Professor of Business Administration at NYU Abu Dhabi.

Dr. Mohieldin highlighted the necessity of paying attention to low and middle-income
countries in a changing global economic trend and cited Africa, where the continent
grew for many countries from being a low-income region to becoming middle-income.

"Middle-income countries and the middle class populations are being squeezed, and
mid-sized enterprises do not have the same support as SMEs," Dr. Mohieldin said.

"The middle needs investment, but [the situation] is not being discussed," he added,
and went further and underlined the urgent need for investment in human capital,
education and infrastructure." Dr. Mohieldin also noted that debt and development
problems remain among the most critical issues facing the global economy and are of
great concern to investors worldwide.

Dr. Bourguignon drew attention to the urgent need to take more steps to achieve carbon
neutrality to avoid the future repercussions that any additional delay in responding to
climate change could cause. He explained that the current framework in place for the
manufacturing and production of global goods needs to be replaced with a new one.

Meanwhile, Dr. Sheets expressed a more optimistic view about the global economy's
health, suggesting that an ever-advancing technology ecosystem has confronted many
challenges the world has faced in recent years.

Concerning the UAE's economy, Dr. Bourguignon said that what enables the country to
face the economic challenges the world is its flexibility and resilience.

In another panel, John Defterios, Professor of Business at NYU Abu Dhabi, spoke to
three government officials. H.E. Ryad Mezzour, Minister of Industry and Trade of the

https://www.htv10.tv/story/50519839/investopia-2024-holds-11-panel-discussions-exploring-
investment-opportunities-in-the-new-economy-technology-circular-and-creative-economy