Back in the year 2000, the buzzword was globalisation. Open borders. The Lexus and the Olive Tree was the book to read to understand globalisation. We saw the strengthening of economic blocs like the EU and NAFTA etc. Now, in 2016, Sahel Majali believes we are now seeing isolationism as the new buzzword.
The UK voted to exit the economic bloc, the European Union. Trump proposes that we build more walls and stronger borders as part of his mandate. Many EU residents are against immigration. What has happened in the last 15 years?
People are starting to lose trust in the conventional Politian and establishments. We are facing culture clashes and Radical Islamic terrorism. It seems that globalization is becoming a brand for the elites and not the people.
It was supposed to create wealth for people, but not for individuals. What’s happened instead, is that the system is now expected to carry some individuals – the exact opposite of what is was intended to do. Naturally, people had to move away from this model; some moved towards isolationism and others to radicalisation.
Creation of wealth
At the end of the 19th Century, creating and manifestation of innovations such as the steam engine, steel, cement and electricity which created wealth for a generation of people and more. It seems we have moved from creators to consumers.
We are bogged down in creating ways to increase consumption and things that can be consumed quickly and not in ways that improve the livelihood of people. For us to go back to globalisation, we need to create wealth for people in the same way as our ancestors.
Investment in science
We should be an innovation driven economy. Currently innovation is high for defences and pharmaceuticals, but it seems we need to go to other sectors and fields, with a backing from the government.
Sahel Majali currently acts as Chairman and CEO of the Mid Group, and overseas all of the organisation’s current projects both in the UK and abroad.