Dusek: The global economy is moving into a new economic area

World Economic Forum (WEF) Director General Mirek Dusek stated that the global economy has “seriously” entered a new economic area, and noted that connections have also been established with other sectors and other areas. A panel titled “Reshaping the Global Economy” was held at the TRT World Forum 2023 organized in Istanbul with the theme of “Developing Together: Responsibilities, Actions and Solutions.” The panel, moderated by Auskar Surbakti, was attended by Dekorbon Technologies Chief Strategy Officer Dr. Çetin Nazikkol, World Economic Forum (WEF) Director General Mirek Dusek, Asia Cooperation Dialogue (ACD) Secretary General Dr. Pornchai Danvivathana, RBC Blubay Asset Management Senior Strategist Timothy Ash and European Investment Bank Turkey President Umberto Del Panta. WEF Director General Dusek stated that the global economy has “seriously” entered a new economic area, and noted that connections have also been established with other sectors and other areas. Dusek stated that there has been a great erosion in society and that this situation has made society fragile, and that it is necessary to focus on how new systems can be built. "If we look at this past year, what comforts us here (the global economy), are the stakeholders and civil society organizations. Of course, these are progressing in the solution phase. It is important to realize this, as in the special presentation of the Minister (Minister of Finance Mehmet Şimşek) on Turkey," said Dusek, and conveyed that it is necessary to focus on solutions, and that this is a difficult process. Stating that there are opposing views in the solution processes, but that efforts are being made to establish a functional system for the global economy, Mirek Dusek gave the US-China relations as an example. Dusek said, "It is a really complicated relationship, there is geostrategic competition, and at the same time, you see that both sides are now taking steps, especially regarding trade and investments." Turkey is progressing positively with the implemented policies RBC Blubay Asset Management Senior Strategist Ash also began his speech by appreciating the presentation made by Minister Şimşek before the panel, and noted that Turkey has faced difficult economic situations in recent years. Pointing out that Turkey's economic policies have been strengthened recently, Ash said, "(Turkey) should be one of the number one investment locations in my opinion." Ash said, "With its strong public finance, debt management, good demographics, good location, as Minister Şimşek also mentioned, 1.3 billion people can access it and there is very strong manufacturing in Turkey." and said that Turkey has made very good progress with the implemented policies. We never doubted that Turkey is a strong country for investments European Investment Bank Turkey President Panta stated that there was never any doubt that Turkey is a strong country for investments and said, "We have not been very active in Turkey in the last 4 years." Noting that a budget of around 4 million has been allocated for earthquakes and constructions, Panta conveyed that changes are expected in the activities of the European Investment Bank in the near future. Referring to the recently published report, Panta said, "It was stated at this point that the European Investment Bank would re-interact with all sectors (in Turkey)." Panta reported that the EU Council had formulated the issue of interaction and that the EU was ready for it. Asia needs the renewal of the global economy ACD Secretary General Danvivathana, expressing his pleasure in attending the event, noted that the economy is fragmented around the world. Expressing that this situation is especially seen in some Asian countries, Danvivathana emphasized that the Organization for Economic Cooperation and Development (OECD) is a success for Asia. Stating that many difficulties have to be overcome, Danvivathana reminded that disasters are experienced around the world. Danvivathana said, "We need to focus ourselves so that we can renew the global economy. We should place this on our national agenda, Asia needs this." Climate change visibly affects the global economy Nazikkol, Chief Strategy Officer of Dekorbon Technologies, also spoke about climate change and the global economy and stated that the world has changed in the last 40-50 years. "We are entering a period where it will be much more difficult to control what is happening. (Climate change) can have huge effects on everyone and everything." Nazikkol said that climate change is no longer a subject of doubt. Noting that the effects of climate change are being felt more and more in the world every day, Nazikkol pointed out that this has started to break the supply chain all over the world. Referring to the disasters experienced due to climate change, Nazikkol explained that one third of Pakistan was submerged due to floods, that there was a flood disaster in China, and that drought was seen in some parts of the world. Nazikkol stated that these disasters have a visible effect on the global economy.