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Stability must for growth: Emir
The current economic and financial turmoil in the world has posed a complex challenge before the developed as well as the developing countries and the best solutions will be possible only with stable environments, the Emir H H Sheikh Hamad bin Khalifa Al Thani said yesterday.
Addressing the opening session of 10th Doha Forum and the Enriching the Middle East’s Economic Future Conference at the Ritz Carlton hotel yesterday, the Emir said: “Our meeting is being held this year at very difficult circumstances because of the economic and financial turmoil encountered by the world that deserves to be studied and examined, and which makes it difficult for any conference or forum to reach a conclusive view or declare a decision on issues that might be definitive or detailed.”
“We all are required to follow up what is going on at the sites of international decision- making, world production and globalised markets, with utmost seriousness and keenness, because we are facing a moment of a major change that the world stability, security and safety necessitate,” he added.
We have now reached an unprecedented degree of scientific and technological advance in terms of availability of commodities, services and funds, and that gives us reasons to be assured about the future.
But on the other hand, we see throughout both the developed and developing world what stirs our serious concern as a result of the violent disturbances we witnessed, as we have an advanced world whose communities are vulnerable to apprehension regarding their social security and the legitimate aspirations of their people.
“Over the past decades, these developed worlds imagined that the years of war, which they had borne the brunt of their woes, ended and that they could now afford to live in a sustained and guaranteed prosperity free from recession and unemployment,” said the Emir.
In the meantime, the developing countries that had accomplished some sort of national independence were looking forward to a future they perceive ahead of them after securing what was achieved by those who were forerunners for advancement.
They thought that they could afford to rely on their own resources and on the support of those advanced through synergic, capable and competent international authorities and organisations to assist them in keeping pace with securing their move towards the future.

Critical contradiction

But the current situation in the world as we see it is confronting all of us with a critical contradiction, where neither the ground for reassurance is available and standing on the part of the advanced, nor the ground for hope is certain and guaranteed on the part of growth seekers.
That will set the world intellectuals and decision-makers vis-a-vis a very complex challenge, added the Emir.
“We neither face a devastating global danger, nor a reassuring situation of global stability, and in our opinion what we see before us either in the field of politics or in economy and finance has basic implications that mean if the major realities about the causes of progress are noticeable, and if the political and economic fluctuations – in the money markets and political practices – are in trouble, that means the disorderliness in this contradiction between the real which entails reassurance, and the actual which causes concern, is in the systems and not in the basics, in management and not in the potentials,” said the Emir.
The Emir said “what we anticipated from the forum are not resolutions on any of the issues, because that in our opinion is affected by the real liquidity situations which threaten the global economic solidity as well as the methods of political practice.”
In this forum you are encountered by an agenda full of important global, regional and local issues, but allow me to remind you that all the issues and problems that concern us are associated with the wider framework, and while we could not await on many problems until the clouds building up around us to dissipate, we see that the movement of this uniquely interdependent world in history can not find the most and best solutions without having stable atmospheres and systematic situations, where each of us could make sound planning on the basis of clear perceptions and rules according to which balanced calculations could be made.

Source: The Peninsula
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