What Is Damac Owner, Husain Sajwani’s View of the Global Political and Economic Climate?
Having been involved in the business world for close to four decades, Hussain Sajwani has witnessed first-hand the impact political tensions can have on the global economy. The Damac owner points this out in reference to the current and brewing political storms across the world, with key emphasis on the U.S – China trade wars and a looming Brexit explosion in Europe. These play into his operating zones for his businesses and can attribute, to a certain extent, the 33 percent profit dip Damac Properties reported in this year’s third quarter.
Need for free trade across the world
When the Damac owner’s friend and longtime business acquaintance, Donald Trump took office as the U.S President, he sparked off a series of trade wars against China. He is particularly opposed to the one-sided nature of Chinese operations where they take advantage of the free trade while consistently locking out foreigners from their local markets.
Hussain Sajwani argues that while the trade war that has since loped in numerous other countries, there is a need for free trade across the world. He shares his friend’s opinions about unfair Chinese business policies that discourage foreign business penetration.
The free trade economic jabs between the United States and China has attracted global attention and roped in such other countries as Canada and Latin America nations. Across the Atlantic, yet another politically instigated economic tension, the Brexit, threatens to tip and carry with it the world’s most stable economic block, the European Union.
The Damac owner believes while the issues at hand like discussions about free trade or seamless transition of the British economy are important, the resulting political tensions aren’t necessary. He adds that these have only served to destabilize the global economy that is still on its knees and on a recovery journey from the 2007/8 financial crisis.
More about Hussain Sajwani
Hussain is the founder and current chairman of Damac properties, an international real estate company specializing in the development of luxury residential properties. He is also the head of Global Logistics Service, a hospitality industry company that either establishes luxury hotels or invests in equally promising restaurants in the Middle East and Africa.