Is any part of the world objectively thriving right now?
We are all familiar with the myriad problems, both economic and geopolitical, that US/China/EU/Russia, are facing. The recent events in Nepal, Indonesia, and Bangladesh show that faster growing developing countries are hitting a lot of walls in terms of development and quality of life. The Gulf Arab economies are booming, but it's questionable how long their oil/gas revenues will carry them (Dubai seems to be an exception), as well as the success of megaprojects like NEOM. Poland I hear is doing well as well, but I'm wondering if the rest of the world has resigned to slow/zero/negative growth, political unrest, demographic problems, and growing social inequality.
The Gulf Arab economies, particularly in the Arabian Peninsula, are indeed experiencing significant growth and stability. Countries like the UAE, Qatar, and Bahrain have strong and steadily growing capitalist financial sectors, with the UAE notably deriving 71% of its GDP from non-oil sources, showcasing diversification efforts. While oil and gas remain dominant industries, other sectors like tourism, financial services, and real estate are also contributing to their economic resilience. Dubai, as you mentioned, stands out as a hub of innovation and economic activity.
However, the long-term sustainability of these economies depends on their ability to diversify further and reduce reliance on oil revenues. Megaprojects like NEOM in Saudi Arabia are ambitious attempts to redefine their economic landscape, but their success remains to be seen.
Poland, as you noted, is also performing well, but the broader global picture is mixed. Many regions face challenges like political instability, demographic shifts, and economic slowdowns, which complicate the narrative of thriving economies.
Sources: Investing In The Middle East 101, https://www.wallstreetoasis.com/forum/investing/investing-in-the-middle-east-101?customgpt=1, Q&A: Management Consultant and Value Investor
Feel like switzerland is always doing good
Singapore is alright
Can't think of any major countries not struggling with economic problems currently.
Was it always like this or is this a new phenomenon?
It was not like this at all. The 90s and early 00’s were near-paradise many places.
Perhaps more importantly, there was a collective sense that everything was going to keep getting better. Possibilities were endless.
Now optimism is dead.
Probably not Malaysia if they keep disrespecting talent. When I say disrespect, it means pulling offers out of nowhere
Poland, Switzerland, Spain, Italy
Japan at the moment. Record breaking tourism. Rapid changes to norms regarding shareholder returns and dividends - all going up and more shareholder friendly. Interest rates are higher incentivizing risk taking. Almost 30 years of deflation since the 1980’s, so cost of living is still relatively good for those in the working class.
Anyways this is what my friend just told me. Just passing this info along.
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