Predictions for 2021: Biden’s victory improves global trade, and the UAE is the dark horse

by **claud39** on Sat Jan 02, 2021 6:48 pm

Predictions for 2021: Biden’s victory improves global trade, and the UAE is the dark horse

02 January 2021 11:24 AM

Predictions for 2021: Biden’s victory improves global trade, and the UAE is the dark horse 1024

Mubasher: Ahmed Shams, head of research at EFG Hermes, predicted that Joe Biden's success in the US elections will improve the global trade situation after it was affected by US policies and the trade wars between the United States and China during Donald Trump's term.

Ahmad Shams indicated, in statements to the Middle East News Agency, today, Saturday, that some kind of economic cooperation could take place between major countries in the world, and that some financial policies produced by Trump will be reviewed, and it will positively affect emerging currencies, and thus the investment cycle in emerging markets that It may recover, but it all depends on when the Corona pandemic ends.

As for Europe in 2021, Shams said that the new year will not be the year of Europe, which will continue to suffer from the problems and interventions of international institutions such as the World Bank and the International Monetary Fund, which greatly helped in the relative stability of the balance of payments in European countries.

He hinted that Germany will remain the only country that achieves growth and has a cash surplus, but with the continued difference in financial policies, one cannot talk about Europe as a single unit.

And he expected that China will be one of the most beneficiaries in 2021, especially after Trump lost the elections, and the performance of global trade improved after the end of the Corona pandemic, as these developments will lead to putting a ceiling on the accumulation of foreign debts on China since 2013, which will positively affect the countries of Southeast Asia, which It mainly relies on exporting to China as re-export terminals.

At the level of the Gulf countries, the head of the research sector at EFG Hermes expected that the Emirates Stock Exchange would be the black horse for stock exchanges in the Gulf region, as any improvement in international trade and tourism would lead to a greater improvement in stock market prices in the UAE.

As for the rest of the economies of the Gulf countries, economic stability will continue, but oil prices will not rise to satisfactory levels of the financial structure and budgets in these countries.

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