ABU DHABI, 22nd January, 2020 (WAM) — The Foreign Correspondents’ Club of the UAE, FCC, hosted David K. Young, Chief Executive Officer of Oxford Analytica, an international consulting firm providing strategic analysis of world events, on Tuesday for a talk and discussion on ‘Global Economic Outlook and the MENA Forecast.’ The talk was the latest in a series of events organised by the Foreign Correspondents’ Club and was attended by international and domestic journalists, academics, diplomats and government officials.
Young analysed the International Monetary Fund’s latest projections for the global economy and especially for the Middle East and North Africa, MENA, region.
Geopolitical instability, trade wars, political intervention in monetary policy and debt crisis will be the major factors influencing the global economic growth in 2020, he explained.
Less than 15 percent of the organisations across the globe have taken active steps to address the potential impact of geopolitical uncertainty, the CEO pointed out.
Elections in many countries, including in the US and Poland, the roll of out 5G [the fifth generation wireless technology for digital cellular networks] and IOT [Internet of Things], and cybersecurity threats will also impact the global economy, Young said.
In the MENA, especially in the Arabian Gulf, a few factors will influence the economic outlook this year, Young said.
Economic diversification, succession of rulers, Expo 2020 Dubai will be the major determinant of the economy in the region, he noted.
Young leads Oxford Analytica’s business worldwide by providing expert insights and trusted judgements to leading organisations across the globe.
Prior to joining the current firm, he worked as the European Director of a US-based, Africa-focussed not-for-profit. He also worked with Canopy, a joint venture of Atos, EMC2 and VMWare.
The FCC was launched early last year to function as a social centre and media hub for UAE journalists. The club aims to create an atmosphere conducive to intellectual debate, cultural exchange and become an important resource for journalists.
The club’s facilities include a conference room with state-of-the-art audio-visual equipment, translation room, meeting rooms, a public lounge and office units.