Why UAE residents don’t have to worry about economic crises

Why UAE residents don’t have to worry about economic crises

The pandemic taught us that the world tends to move quickly when new crises take centre-stage

By Abdulla Mohammed Alriyami Published: Mon 13 Mar 2023, 10:33 PM Last updated: Mon 13 Mar 2023, 10:58 PM

Let me start with one of my favourite quotes by Francis Bacon: “Read not to contradict and confute, nor to believe and take for granted, nor to find talk and discourse, but to weigh and consider.”

The pandemic taught us that the world tends to move quickly when new crises take centre-stage. The matter I want to highlight today is the United States’ Federal Bank’s strategies to counter inflation — and the effects they are having on developing and under-developed nations. Although some experts are concerned that a US interest rate hike could lead to a worldwide economic crisis, it’s important to note that economic forecasts are never specific, and many different factors can influence the global economy.

Away from all that, consider yourself lucky if you live in the UAE — because you don’t need to worry about economic crises. For long, the UAE has understood that no country is free of financial challenges, and our government has taken several measures to decrease the impact of the US