June 23, 2003

Economic Pulse

World Economic Forum (WEF) — Challenges and Impressions

By Fahed Fanek

The meeting was held under the slogan “A common vision for the future”, a very ambitious objective. Even though a “vision” is less than a “plan”, it paves the way for plans, and plans pave the way for action which the world needs badly at this juncture.

It remains doubtful whether a common vision among the participants can be reached under the current turbulent circumstances when all parties are required but unwilling to make painful concessions for a sort of consensus to become possible.

The mission of the Dead Sea deliberations is to make such a common vision possible. The organizers believe it is feasible because the world of today tries hard to promote cooperation and exchange interests, instead of conflicts and exchange of fire. If this mission were impossible, no peaceful diplomatic activities would be justified or called for.

Our desire to be optimistic will not blind us to the hurdles and impediments that face this gathering or, for that matter, any world-wide gathering, including the United Nations. It is extremely difficult to reach a common vision for the future between Arabs and Israelis, Old Europe and new America, the rich and developed in the First World and the poor and developing in the Third World.

Each party has its own vision, interests and orientation, which do not necessarily coincide with the other's. The current European political culture, depending on soft power, is quite different from the American culture, depending on might and preemptive war to maintain world superiority. The economic, military and technological gap between the first and third worlds are getting wider, especially after the collapse of the so called second world, meaning the former socialist camp.

We are attentively watching the proceedings of the forum on the shores of the Dead Sea. The forum is a step forward in the right direction, in its endeavor to make the world a better and safer place to live in.

The conferees enjoy peace of mind. They are not worried about the anti-globalization movement which practices violence in an attempt to obstruct such global conferences. The security measures taken by the Jordanian authorities have no holes, the opposers of globalization can only express their objections by democratic means acceptable in the civilized world, such as organizing workshops in Amman to highlight the negative aspects of globalization.

The World Economic Forum is not only economic, it is political as well. It is not expected to solve all the economic and political problems of today. Why should we think otherwise as long as even the United Nations Security Council is unable to resolve the world's political conflicts, and the World Bank, the International Monetary Fund, Paris Club and the World Trade Organization fail to overcome the world's economic problems?

The forum tackled acute issues of the moment head on, such as peace in the Middle East, the New World Order, the American free trade offer to the Middle Eastern countries, the lack of economic growth, heavy indebtedness, poverty and unemployment in many countries.

One of the incentives to attend such an international gathering is to meet others and promote ideas and interests. One can address the world through the forum; it is believed that five hundred millions around the world watched His Majesty King Abdullah's opening speech.

The forum is a marketplace for ideas and interests. The contacts may be translated into contracts and convictions.

Jordan, represented by King Abdullah, contributed to the success of the forum during the past four years. It is only natural for his contribution to be recognized and lauded.

For three long days, Jordan was and still is in the spotlight of the world. The participants will leave tomorrow with positive impressions of the Jordanian people's political and economic achievements.