Following the expansion of Chinese-led projects in many emerging markets over the past decade, the G7 has unveiled its own initiative to support global infrastructure development, dubbed Build Back Better World (B3W).
The Middle East
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Dubai’s diversified and digitalised economy was able to absorb the impact of the Covid-19 pandemic relatively well. The emirate enjoys some of the fastest internet speeds and most advanced broadband infrastructure in the world, which facilitated the rapid shift to online work, education and commerce.
The trade dispute between Qatar and some of its neighbours in 2017-20 served to strengthen the country's food security, spurring it to ramp up domestic production capacity and diversify global trade partners.
Amid an increased focus on environmental sustainability, the idea of fossil fuel “bad banks” is gaining traction globally. The concept refers to special companies specifically dedicated to acquiring and winding down fossil fuel assets.
As emerging markets around the world continue their recovery from Covid-19, remittances are playing a key role in supporting the economic rebound.
With the current semester winding up, many higher education institutions in the Gulf are already planning an expanded offering of courses for the next academic year – with a focus on supporting the needs of the region’s post-pandemic economy.