The global economy today is facing many challenges. Today's global climate is surrounded with various threats and risks that need to be dealt with diligent approaches.
Food insecurity, water scarcity, climate change, failed states, regional crises, global terrorism, irregular migrants, slow down in world economy and unpredictable developments threaten world's interconnected economic platforms and all countries collectively or individually at varying magnitudes. Instability and unpredictability are major enemies for our economies and development efforts.
Today, instability and unpredictability are not the case just for the third world. In a major economic and political platform like the European Union, who could honestly predict Britain's leaving the Union while people were more focused on Greece's exit? Unpredictable events can occur everywhere. However, today, all economic powers, platforms and countries require more balanced, mutually beneficial and peaceful economic and political relations with each other to cooperate against common threats and risks to seek for a safer, stable and much predictable global order. No mater what, we are all witnessing an era of instabilities and unpredictability. Although the terms “super-power” or “preponderance of the Unites States” seems to be a logical and easy approach for those who seek to find solutions to global challenges and problems, we will not be able to cope with these challenges if emerging powers do not play their part. In addition, as the U.S. Federal Reserve begins its monetary tightening, Europe is struggling to manage migrant and debt crises, China's financial stability is in doubt, and emerging economies are increasingly fragile. Today, the world is desperately in need of emerging powers' efforts and engagement against these challenges. We are also in urgent need of countries creating stronger cooperation, building trust and generate common sense to address instability and unpredictability that have heavy costs for our world. A trustful constructive approach and a peaceful climate strengthened by mutually beneficial relations are all we need.
BY METEHAN DEMİR