As we step into the new year, I’ve noticed a stunning number of unexpected shifts, bits of news and looming developments, pointing towards a wildly unpredictable 2025.
Let’s start with the latest topsy-turvy in science and society. Climate scientists say the Arctic, the world’s famously frozen wasteland, is set to become ice-free in the near future. If the Arctic is no longer Arctic, won’t English-speakers everywhere need to find a new word to describe freezing cold weather?
After the world witnessed a backlash against over-tourism in 2024, travellers are expected to avoid many top vacation hotspots such as Venice, Santorini, Bali and beyond, instead visiting relatively unknown places like conflict-hit Kashmir. Could the next travel trend be destinations endeavouring to appear less appealing?
According to a report in The New York Times, the US government body charged with protecting its environment has for decades been knowingly promoting a fertiliser that leaves dangerous “forever chemicals” in the soil and water table. And food production researchers recently found that the back-to-nature style, organic and regenerative farming favoured by progressives is probably worse for humanity and the Earth than the industrial agriculture that’s been widely reviled for decades.
“Their artisanal grains and grass-fed beef are worse for nature than chemical-drenched corn and feedlot-fattened beef,” the author of a forthcoming book, We Are Eating the Earth, argued recently in The New York Times, “because they require much more land for each calorie they produce.”
Next up, politics, starting with the world’s most powerful office. Overcoming a younger, upstart candidate, accusations of seeking to foment a coup four years ago, and being the first former president with a felony conviction, Donald Trump cruised to an easy victory in November, stunning many prognosticators and leaving countless liberal-minded Americans seriously considering a move abroad. Will the next president shake the foundations of US democracy, or merely annoy a lot of American elites?
Israel has come full circle in terms of international opinion in the past 15 months
Now to the Middle East. I can’t recall any conflict that seemed as over as Syria’s civil war did six weeks ago, with President Bashar Al Assad, having put down an armed rebellion some time back, beginning to re-enter the regional diplomatic fold.
But, out of the blue, Hayat Tahrir Al Sham surged from Aleppo to Damascus to take power in a flash. Suddenly the Assad regime was no more, and Syria – for decades one of the region’s dark spots – is a place of hope, despite a terrorist-labelled leadership. One starts to wonder, is the best way to win a war to not fight it? For a while, at least, maybe.
Within hours of Mr Al Assad’s exit, Syrian exiles everywhere started talking about returning home, and many western governments, facing voter dissatisfaction over recently arrived immigrants, quickly halted asylum processing. Already, Turkey and Jordan have opened the border to returning Syrians and Austria is developing a massive repatriation plan. Anti-immigrant governments like that of Mr Trump might not be far behind. Are we about to witness the largest reverse migration in human history?
Speaking of Muslims in the West, December’s Christmas market attacker in Germany was a Saudi who was right-wing and anti-Islam, upending terrorist stereotypes. The attack “creates uncertainty at a time when certainties are already crumbling,” said a Der Spiegel columnist.
Next up, Israel, which has come full circle in terms of international opinion in the past 15 months. Start with October 7, when Hamas’s brutal assault led much of the world to sympathise with the Israeli people. Yet, much as the US did after the 9/11 attacks, Israel’s government stomped all over that global goodwill with the way its military bludgeoned, blasted and bulldozed Gaza in the months that followed. Now Syria’s successful revolution seems to be bringing things full circle.
With Mr Al Assad gone, Iran weakened, and Hamas and Hezbollah on their last legs, some are praising Israel’s military performance, and Reuters has described it as a “a succession of monumental wins for [Prime Minister Benjamin] Netanyahu”. On the verge of becoming an international pariah after accusations of genocide and war crimes, Israel could now emerge as the pioneer of a new style of innovative, 21st-century warfare.
Last, but certainly not least, we have Turkey. You may remember Turkish President Recep Tayyip Erdogan’s criticism of foreign involvement in other countries’ political processes. In 2015, he denounced a top US news outlet for meddling in Turkey’s affairs after it ran a critical article. “Know your place,” Mr Erdogan urged.
Three years later, the Turkish leader accused the US and Israel of interfering in the affairs of Pakistan and Iran. The year after that, when western countries criticised Turkey’s revocation of an election result, Mr Erdogan accused the US and Europe of meddling in Turkish politics. The list goes on, underscoring the Turkish leader’s strong stance on foreign political involvement.
Yet Mr Erdogan recently made clear that Turkey will not only be involved in the formation of Syria’s new government, it will play a crucial role – helping define its state structure and draft a new constitution. There are no two ways about it: Turkey is embarking on a nation-building mission in Syria, where it’s seen as the ultimate power with influence over its new leaders.
Turkey’s long-time leader has always wanted his country to be respected as a global power, and now he has before him what is often viewed as the ultimate challenge for the world’s most powerful states: nation building. No wonder we’ve seen recent reports that Mr Erdogan could seek yet another term; he surely hopes to see this through.
Here’s to hoping that 2025, and Syria, turn out better than many fear. Have yourself a Happy New Year.
More from UAE Human Development Report:
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
'My Son'
Director: Christian Carion
Starring: James McAvoy, Claire Foy, Tom Cullen, Gary Lewis
Rating: 2/5
F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
UAE currency: the story behind the money in your pockets
Retirement funds heavily invested in equities at a risky time
Pension funds in growing economies in Asia, Latin America and the Middle East have a sharply higher percentage of assets parked in stocks, just at a time when trade tensions threaten to derail markets.
Retirement money managers in 14 geographies now allocate 40 per cent of their assets to equities, an 8 percentage-point climb over the past five years, according to a Mercer survey released last week that canvassed government, corporate and mandatory pension funds with almost $5 trillion in assets under management. That compares with about 25 per cent for pension funds in Europe.
The escalating trade spat between the US and China has heightened fears that stocks are ripe for a downturn. With tensions mounting and outcomes driven more by politics than economics, the S&P 500 Index will be on course for a “full-scale bear market” without Federal Reserve interest-rate cuts, Citigroup’s global macro strategy team said earlier this week.
The increased allocation to equities by growth-market pension funds has come at the expense of fixed-income investments, which declined 11 percentage points over the five years, according to the survey.
Hong Kong funds have the highest exposure to equities at 66 per cent, although that’s been relatively stable over the period. Japan’s equity allocation jumped 13 percentage points while South Korea’s increased 8 percentage points.
The money managers are also directing a higher portion of their funds to assets outside of their home countries. On average, foreign stocks now account for 49 per cent of respondents’ equity investments, 4 percentage points higher than five years ago, while foreign fixed-income exposure climbed 7 percentage points to 23 per cent. Funds in Japan, South Korea, Malaysia and Taiwan are among those seeking greater diversification in stocks and fixed income.
• Bloomberg
Scoreline
Man Utd 2 Pogba 27', Martial 49'
Everton 1 Sigurdsson 77'
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Specs
Engine: Duel electric motors
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CHELSEA'S NEXT FIVE GAMES
Mar 10: Norwich(A)
Mar 13: Newcastle(H)
Mar 16: Lille(A)
Mar 19: Middlesbrough(A)
Apr 2: Brentford(H)
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Some of Darwish's last words
"They see their tomorrows slipping out of their reach. And though it seems to them that everything outside this reality is heaven, yet they do not want to go to that heaven. They stay, because they are afflicted with hope." - Mahmoud Darwish, to attendees of the Palestine Festival of Literature, 2008
His life in brief: Born in a village near Galilee, he lived in exile for most of his life and started writing poetry after high school. He was arrested several times by Israel for what were deemed to be inciteful poems. Most of his work focused on the love and yearning for his homeland, and he was regarded the Palestinian poet of resistance. Over the course of his life, he published more than 30 poetry collections and books of prose, with his work translated into more than 20 languages. Many of his poems were set to music by Arab composers, most significantly Marcel Khalife. Darwish died on August 9, 2008 after undergoing heart surgery in the United States. He was later buried in Ramallah where a shrine was erected in his honour.
Sui Dhaaga: Made in India
Director: Sharat Katariya
Starring: Varun Dhawan, Anushka Sharma, Raghubir Yadav
3.5/5