It’s very clear the world has split into two halves, East and West, and the East appears to be outsmarting the West. It raises the question of whether the East is becoming the new “First World” while the West becomes the new “Third World.
From our perspective in the UAE, the shift is evident. People from all industries, not just oil, are moving here, not just to Dubai, but also to Abu Dhabi, Fujairah and Ras al Khaimah, all of which are expanding in various fields. Even Africa, and Nigeria in particular, is becoming a more attractive business environment compared to some parts of Europe.