His Excellency Dr. Ali Mohamed Al-Khouri, during his speech at Seamless Saudi Arabia 2020, said that, without a doubt, the world has become in a major economic predicament, as the crisis coincided with a historic collapse in oil prices, the volatility of crude oil markets, and an imbalance in the global supply and demand chains, all of which came together with the market volatility upside down after.
He added, if we add to this the ongoing cold wars between the world powers, which are now bearing huge geopolitical repercussions, deepening the wounds of the current crisis.
He added that the Covid-19 crisis is pushing global debt levels to new peaks, which could pose a serious threat in itself after the threat of the epidemic has subsided.
Al-Khouri stressed that there are many other violent challenges, and that all of them have become a very heavy burden on the shoulders of the global economy, and will continue to drag all the economies of the world back.
He added that future expectations about the global economy have become one of the thorny issues that are subject to wide discussions, and no one has definitive answers about the details, form and components of its system.
He added that everyone agreed that the Covid-19 crisis will create a different social and economic system than it is today.
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