Abu-Ghazaleh Predicts a Major Global Recession and Issues a Warning

Al-Taj News – Dr. Talal Abu-Ghazaleh, founder and chairman of the Talal Abu-Ghazaleh Global Group, said the world is facing a pivotal historical phase in which the balance of power is moving toward a reshaping, amid escalating rivalry between the United States and China over leadership of the global order and a declining ability of international organizations to enforce their rules and manage conflicts. He warned of far-reaching economic and political repercussions that could affect countries around the world, while predicting that the global economy would enter a period of major recession.

Abu-Ghazaleh added that developments in the region should not be viewed solely through the details of conflicts on the ground, but rather through a deeper understanding of global strategic shifts. He considered regional confrontations and tensions to be linked, in large part, to the competition between Washington and Beijing for influence and dominance.

He explained that the United States is seeking to maintain its position as the world’s dominant power, while China believes it now possesses the capabilities to play a greater role in leading the world. This places the two powers in an open strategic conflict that could escalate into direct military confrontation, despite both sides recognizing that such a confrontation would be costly for them.