“Middle East and Africa Power the World Economy - So Why Are We Still Suffering?” Economist Asks

In a bold statement stirring debate across economic and political circles, renowned global economist Dr. Karim Al-Farouq has questioned why regions like the Middle East and Africa which supply vital energy, raw materials, and labor to the world continue to face chronic economic hardship.

Speaking at the Global Development Forum in Dubai on Monday, Dr. Al-Farouq said, “We are the engine room of the global economy. Yet our people are still struggling to eat, to work, to dream. That is not just an imbalance it’s a global failure.”

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His comments sparked widespread attention as oil-rich Gulf states and resource-rich African nations remain key suppliers of crude oil, natural gas, gold, cobalt, and agricultural exports yet many still battle high unemployment, poor infrastructure, political instability, and rising debt.

According to the World Bank, sub-Saharan Africa alone holds over 30% of the world’s mineral reserves and supplies over 70% of global cobalt used in electric vehicles and smartphones. The Middle East remains one of the top oil-exporting regions, with OPEC nations influencing global fuel prices.

Yet, despite their global contributions, millions in both regions live in poverty.

Dr. Al-Farouq cited a mix of factors: weak local governance, unfair trade systems, over-reliance on raw exports, and external political influence. “We export wealth, but we import poverty,” he stated. “Until we build industries at home and demand fair terms globally, this cycle will continue.”

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Experts echoed his concerns, calling for reforms in global trade agreements, investment in local manufacturing, and stronger leadership across African and Middle Eastern states.

His remarks have since gone viral across social media platforms, particularly in Nigeria, Egypt, South Africa, and Saudi Arabia, where youth unemployment and inflation are biting harder than ever despite their nations’ economic significance.

The question remains: Can regions so essential to the world’s prosperity finally claim their fair share?

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