Geopolitical factors pose the biggest threat to the sustainability of the global economy, Saudi Arabia’s Finance Minister Mohammed bin Abdullah al-Jadaan said April 28 at a special session of the World Economic Forum in Riyadh.
“Today, in my opinion, geopolitical factors are perhaps the main risk for the global economy.”he said.
According to the Minister, many countries now use economic levers to achieve their geopolitical objectives, which leads to restrictions on trade and the diffusion of technology.
Due to conflicts, the world economy is fragmenting and this mainly affects developing countries. Furthermore, in the context of fragmentation, the priority of national governments should be the development of human capital, which will ensure high-quality growth and technological progress.
Mohammed bin Abdullah al-Jadaan noted that to overcome this situation, politicians will have to show greater flexibility. He called on world leaders to do everything possible to achieve de-escalation.
Source: Rossa Primavera
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