EDITORIAL
The Illusion of Inclusion: Why Davos Fails the Developing World
Published
4 months agoon
By
Editor
Each year, the World Economic Forum (WEF) in Davos assembles the world’s most powerful leaders—government officials, corporate executives, and influential policymakers—to discuss the future of the global economy. With its elite gatherings and grand rhetoric, Davos projects itself as a platform for shaping a more inclusive and sustainable world. Yet, beneath the surface, a fundamental question remains: how does Davos truly serve the interests of the developing world, especially Africa?
For decades, Davos has been a stage for promoting globalization, technological innovation, and financial integration. However, the interests of the Global South – Africa, Latin America, and much of Asia – often take a back seat to the priorities of developed economies. The agenda is dominated by topics like artificial intelligence, climate change, and financial stability, which, while crucial, are typically framed through the lens of Western economic models and corporate priorities.
Africa and other developing regions rarely set the agenda at Davos; they remain largely passive participants in a conversation that profoundly affects their economic futures. Decisions about debt restructuring, trade policies, and technological investments are made in rooms where African leaders have limited influence. This structural imbalance reflects a deeper issue – the persistence of an economic order that prioritizes Western financial and corporate interests over the developmental aspirations of the Global South.
Despite its claims of global inclusivity, Davos continues to reinforce economic structures that disadvantage developing nations. Three major areas of concern stand out:
- Debt and Financial Dependency
African nations continue to struggle with unsustainable debt, much of it owed to Western financial institutions. While Davos discussions often highlight debt restructuring, they fail to address the fundamental flaws of the global financial system – flaws that keep African economies trapped in cycles of dependency. The absence of genuine structural reforms ensures that the developing world remains financially subordinate to Western creditors.
- Climate Hypocrisy
Developed nations at Davos aggressively push for green transitions, often pressuring African countries to abandon fossil fuels. Yet, they provide little funding or technology transfer to help Africa transition on its own terms. While Western economies continue benefiting from decades of industrial carbon emissions, African nations – rich in natural resources – face restrictions that limit their ability to harness their own energy wealth. This selective environmental advocacy reveals a glaring hypocrisy: Africa is expected to comply with sustainability mandates without receiving adequate support for alternative energy development.
- Trade and Economic Policies Favoring Corporations over Sovereignty
Davos promotes free trade agreements and investment policies that overwhelmingly benefit multinational corporations. African nations, in turn, find their local industries sidelined by powerful Western firms that dictate market terms. The promise of globalization, rather than fostering true economic inclusion, has largely reinforced Africa’s position as an exporter of raw materials and an importer of expensive finished goods—perpetuating economic stagnation.
The dominant economic models promoted at Davos-rooted in neoliberal capitalism – prioritize profit maximization, financial speculation, and corporate interests over ethical governance and social well-being. This is where the Islamic economic paradigm offers a moral and practical alternative.
- Ethical Finance over Speculative Capitalism
Islamic finance promotes risk-sharing and prohibits exploitative financial instruments such as interest (riba). If global economic policies were more aligned with these principles, developing nations could break free from debt dependency and adopt financial models that encourage shared prosperity.
- Sustainable Development over Profit-Driven Growth
Islamic economics emphasizes Maslaha (public interest) and Tawheed (unity of purpose), ensuring that economic policies serve humanity rather than corporate greed. A global economic system built on these principles would prioritize sustainability, ethical trade, and community welfare over sheer GDP growth.
- Economic Justice over Corporate Domination
Islamic economics champions Zakat (wealth redistribution) and Waqf (social endowments), offering an alternative to the exploitative financial models that dominate Davos. If African economies structured their development around these principles, they could foster self-reliance instead of remaining dependent on Western institutions.
Davos, in its current form, does not represent the interests of Africa or the developing world. It remains an exclusive club where global elites set the rules of the economic game—rules that have historically kept developing nations at the margins.
It is time for Africa and the Islamic world to spearhead a new kind of global economic dialogue—one that prioritizes justice, ethical finance, and true economic sovereignty.
The rise of the Islamic economy, along with Africa’s growing economic and demographic strength, presents an opportunity to build a model of economic governance rooted in fairness, sustainability, and self-reliance. Instead of looking to Davos for solutions, African and Islamic economic leaders must chart their own path—one grounded in ethical economics, financial sovereignty, and global equity.
For decades, Davos has positioned itself as the world’s premier economic think tank, but its impact on the developing world remains limited. The Islamic economic model offers a compelling alternative—one that is not only more just and sustainable but also more resilient against the excesses of speculative capitalism.
Rather than waiting for Davos to acknowledge its concerns, the Global South must seize the initiative. It is time to move beyond rhetoric and towards action—creating a new economic order where Africa and the Islamic world lead, rather than follow.
This is the challenge for Islamic economists, policymakers, and visionaries: to build an economic system that serves humanity, not just the financial elite gathered in Davos.
You may like
-
When America Turns Away, Who Will Stand with the World’s Poor?
-
IsDB and Algeria Enhance Strategic Partnership
-
Trump’s Tariff Tsunami: Charting a Strategic Response from the Islamic World
-
Trump’s Tariff Gambit and the Specter of Global Economic Chaos
-
Sudan’s Civil War: A Conflict in Perpetuity and the Failure of International Diplomacy
-
The Islamic Economy and Africa’s Economic Development: A Strategic Pathway to Diversification and Growth
EDITORIAL
When America Turns Away, Who Will Stand with the World’s Poor?
Published
2 months agoon
April 21, 2025By
Editor
The silent dismantling of the United States Agency for International Development (USAID) by the Trump administration has already begun to cast a long and catastrophic shadow across some of the most vulnerable regions of our planet. While the world watched in disbelief, Washington took a scalpel—and at times a sledgehammer—to decades of humanitarian partnerships, transforming America’s image from a flawed but willing global responder to an indifferent bystander.
Under the guise of the “America First” doctrine, the White House is not only slashing funds—it is uprooting entire systems of international solidarity. USAID, long a cornerstone of the U.S. foreign policy arsenal, is being dissolved into the bureaucratic core of the State Department, its staff decimated, its mission neutered. This is not just policy redirection. It is strategic retreat.
And the consequences are already devastating.
In Myanmar, a country teetering between civil war and natural catastrophe, a deadly 7.7 magnitude earthquake has laid bare the moral vacuum left by the U.S. pullback. More than 3,300 people are dead. Entire neighborhoods are reduced to rubble. While Washington has offered a paltry $9 million in aid, the true toll lies not in numbers but in absence—no boots on the ground, no structured response, no meaningful engagement. By contrast, in the 2023 Turkey-Syria quake, the U.S. pledged $185 million and dispatched hundreds of relief workers. Myanmar, it seems, is now relegated to the back pages of the U.S. conscience.
In Afghanistan, the picture is equally dire. The abrupt halt of funding for World Food Programme (WFP) operations, and the shuttering of hundreds of WHO-supported clinics, has pushed a starving, war-weary population further into the abyss. Twenty-three million Afghans need humanitarian aid. Two million rely on WFP food rations that will now no longer come. The rationale? That funds might trickle to the Taliban. But blanket punishment of a population—especially women, children, and the elderly—is neither just nor strategic.
In Sudan, now entering its third year of a brutal civil war, the picture is almost apocalyptic. More than 30 million people are in need of aid. Nearly half a million have already died of hunger and disease in 2024 alone. With the U.S. pulling out, 80% of community kitchens have shut down. Refugees in Chad, already living on the brink, are now left without food, water, or hope. Once again, the U.S. has ceded moral ground.
Even in South Africa, where the President’s Emergency Plan for AIDS Relief (PEPFAR) has for two decades been the world’s most successful anti-HIV initiative, the damage is palpable. Experts now warn that without sustained funding, South Africa could face an additional 565,000 HIV infections and over 600,000 deaths by 2034. Thousands of support services have been halted, and a generation of progress stands at risk.
These aren’t just numbers. They are the real, lived experiences of millions of human beings—trapped in crises not of their making, caught in the crosshairs of global geopolitics, abandoned in their hour of greatest need.
And yet, amid the wreckage, a critical question arises: Who will fill the void?
If the United States is retreating from its role as the world’s emergency responder, the onus must shift to others with the capacity and resources to help. Here, we must issue a moral and strategic challenge to the wealthier nations of the Gulf—Saudi Arabia, Qatar, the UAE, Oman, and Kuwait.
These countries have benefited from decades of immense oil wealth, and many have built modern economies, world-class cities, and sophisticated diplomatic networks. But with wealth comes responsibility. It is time for the Gulf to rise to the mantle of global humanitarian leadership—not just through quiet diplomacy or symbolic donations, but through bold, coordinated, and sustained intervention in global crises.
Gulf nations, particularly those that claim leadership in the Islamic world, must now walk their talk. Islam’s teachings on compassion, zakat, and the duty to protect the vulnerable are clear and uncompromising. What greater test of faith and moral purpose than to respond to famines in Sudan, earthquakes in Myanmar, or epidemics in sub-Saharan Africa?
In 2022, Qatar showed remarkable leadership by mediating in Afghanistan and offering humanitarian aid during natural disasters. The UAE has increasingly stepped into the humanitarian space in East Africa and Yemen. Saudi Arabia’s King Salman Humanitarian Aid and Relief Centre has made strides in emergency response. But these efforts must now be scaled, systematized, and globalized. The Gulf must move beyond regional charity into international humanitarianism.
Moreover, such leadership is not only ethical—it is strategic. By filling the humanitarian gap left by the United States, Gulf countries can enhance their soft power, build alliances with Global South nations, and demonstrate that a multipolar world need not be a fractured one. If the West is faltering, the Global East and South must not fail.
Let the response to this moment of crisis become a defining chapter in Gulf leadership. Let the world say that when America turned away, others stood up. That amid despair, compassion found new champions.
For in the end, history will judge not the power we held, but the lives we saved with it.
EDITORIAL
Trump’s Tariff Tsunami: Charting a Strategic Response from the Islamic World
Published
2 months agoon
April 15, 2025By
Editor
The world today stands on the precipice of a profound geopolitical and economic recalibration. With his latest sweeping tariff declaration—a 10% blanket levy on nearly all imported goods, alongside severe country-specific tariffs—Donald J. Trump has launched what may prove to be one of the most consequential acts of economic nationalism in modern history. Framed as a patriotic revival of American industry, it is, in fact, a seismic disruption of global trade norms with reverberations that will be especially destructive to the Global South and, by extension, the Islamic world.
This moment calls for clarity—not only of analysis but of strategy. For Muslim-majority countries already navigating fragile developmental paths, Trump’s tariff agenda may well become a catalyst for systemic realignment. It demands not despair, but a redoubling of efforts toward economic self-determination, intra-OIC trade expansion, and a bold embrace of Islamic economic principles.
A Revival of Mercantilism in a Globalized Age
At the heart of Trump’s new economic policy lies a nostalgia-fueled resurrection of mercantilist thought. In seeking to reverse the effects of decades-long globalization, his administration is deploying 20th-century tools against a 21st-century reality. The United States, no longer the singular industrial hegemon it was after World War II, now competes in a multipolar economic world. Yet Trump’s tariff regime assumes that insulating domestic markets from international competition will singlehandedly reindustrialize the American economy.
History, however, warns against such assumptions. The Smoot-Hawley Tariff Act of 1930—often cited by economists as a contributing factor to the Great Depression—demonstrated how aggressive protectionism can lead to retaliatory spirals, global contraction, and social unrest. What we are witnessing today bears alarming similarities, albeit on a digitally interconnected and supply-chain-dependent global stage.
An Asymmetric Earthquake: The Vulnerability of Emerging Islamic Economies
The Islamic world—comprising over 50 nations, many of which are dependent on exports to Western markets—is uniquely exposed to this unfolding economic earthquake. While countries like China and the European Union may possess the leverage and infrastructure to respond with countermeasures, Muslim-majority economies—especially in South Asia, Sub-Saharan Africa, and Southeast Asia—face a more existential challenge.
Consider the case of Pakistan, Indonesia, Bangladesh, and Egypt. These nations are not only reliant on textile and agricultural exports to the United States but are also structurally embedded within global value chains that feed Western consumer markets. A sudden imposition of high tariffs on these exports—some reportedly as high as 50%—is not just punitive; it is potentially ruinous.
More alarmingly, these policies threaten to undermine decades of incremental gains achieved through preferential trade agreements, foreign direct investment, and participation in multilateral trading systems. For many of these nations, Trump’s tariffs are not just economic measures—they are external shocks with deeply internal consequences: rising unemployment, inflationary pressures, balance-of-payments crises, and heightened political instability.
An Opportunity to Reclaim Strategic Economic Sovereignty
Yet within this crisis lies a generational opportunity. Trump’s unilateralism and the broader Western trend toward economic insularity may, paradoxically, offer the Islamic world a historic opening to reimagine its position in the global economy—not as passive peripheries, but as an interconnected bloc of strategic importance.
There is a growing case for the acceleration of intra-OIC trade, currently hovering around a modest 20% of total trade among member states. Through strengthened regional economic cooperation, harmonized halal certification, integrated digital payment systems, and Islamic finance-backed industrial projects, Muslim-majority nations can foster alternative markets less susceptible to Western volatility.
Institutions such as the Islamic Development Bank, OIC Trade Negotiating Committee, and D-8 Organization for Economic Cooperation must now take center stage in coordinating a South-South trade renaissance. Additionally, Gulf Cooperation Council (GCC) nations, with their sovereign wealth and capital surpluses, have a critical role to play in underwriting industrialization efforts across lower-income OIC partners, creating mutually reinforcing economic corridors.
Furthermore, this is an opportune moment to reinvigorate the Islamic economic paradigm itself. Rooted in risk-sharing, ethical finance, and real-sector investment, Islamic economics offers a framework better attuned to sustainable development than the speculative excesses of neoliberal globalization. The decoupling of global trade may, therefore, provide the Islamic world with the impetus to invest in economic models that reflect its values and aspirations.
The Imperative of Strategic Unity
A fragmented response to this crisis will only deepen vulnerabilities. But a coordinated, principle-driven, and future-focused strategy could transform this tariff tsunami into a platform for economic reawakening across the Islamic world. The choice before us is stark: either remain at the mercy of shifting Western political winds or rise collectively to forge new alliances, institutions, and economic instruments.
Let us be clear: Trump’s tariffs are not simply a U.S. domestic policy—they are a challenge to the very fabric of globalization and an implicit message that the rules-based international economic order may no longer serve emerging economies. If so, then the Islamic world must not only ask what it stands to lose—but what it can gain by standing together.
Conclusion: Beyond Reaction, Toward Reinvention
In Surah Ar-Ra’d (13:11), the Qur’an reminds us: “Indeed, Allah will not change the condition of a people until they change what is in themselves.” This is not merely spiritual counsel—it is strategic guidance.
The Islamic world now faces a defining test. Will it continue to look outward for validation and markets, or will it summon the internal resolve to build resilient, just, and independent economies? Trump’s tariff tsunami may well be a global economic earthquake—but it could also be the spark of a long-overdue economic renaissance for the Ummah.
EDITORIAL
Trump’s Tariff Gambit and the Specter of Global Economic Chaos
Published
2 months agoon
April 11, 2025By
Editor
From the heart of Washington, D.C., the world is once again being dragged into an economic tailspin orchestrated by one man’s populist instincts and obsession with “winning.” Donald Trump’s latest tariff moves are not merely policy missteps—they are manifestations of a worldview that sees international economic cooperation not as a shared platform for mutual benefit, but as a zero-sum game of dominance and coercion.
For Islamic economists and policymakers concerned with equity, stability, and the moral dimensions of trade, the Trump Tariff Show is more than just theatrics—it’s a warning signal of how deeply distorted the global economic order has become.
Tariffs as Weapons, Not Tools
Unlike the Islamic economic tradition which views trade as a mutual covenant governed by justice (adl
) and cooperation (ta’awun
), Trump’s tariffs are being wielded as economic weapons. The idea of “reciprocal tariffs”—the notion that trade must always be balanced in numerical terms—is rooted in transactional nationalism, not in economic sense. In fact, scholars from Brookings to Peterson Institute for International Economics have repeatedly warned that such a view misinterprets the nature of global value chains and ignores the very logic of comparative advantage.
Islamic teachings on trade, as found in both the Qur’an and Hadith, emphasize ethical conduct, fairness, and avoiding harm (darar
). The Prophet Muhammad (peace be upon him) himself was a merchant whose success came not from closing markets to others, but from being known as “Al-Amin” – the trustworthy. Trump’s approach undermines trust and creates fear, a far cry from the Prophetic model.
A Strategy Without Strategy
Trump’s tariff saga lacks coherence. As reported, there is no clear doctrine—only the impulsive judgments of a leader playing to his domestic base. One day tariffs are imposed, the next day they’re paused. Global markets reel and recover like an abused partner in an unpredictable relationship. As The Economist notes, America has moved from predictable superpower to mercurial bully, unsettling even its closest allies.
Compare this with the Islamic economic emphasis on istiqrar (stability) and maslahah (public interest). Policies must be predictable, transparent, and rooted in long-term welfare—not short-term political spectacle. The Qur’an explicitly condemns deceit and sudden, destabilizing action in commercial dealings. In the Islamic vision of a just economic order, the state should be a shepherd (ra’i
), not a predator.
The Myth of Reshoring and Manufacturing Mirages
Trump’s fantasy of “bringing jobs back” through punitive tariffs ignores basic economic realities. U.S. manufacturers are not leaving because tariffs are too low—they’re moving operations because of automation, wage differentials, and global efficiency gains. Punishing trading partners won’t change this. On the contrary, it risks triggering retaliation, increasing consumer costs, and destabilizing emerging economies—including those in the Muslim world.
China has already responded with its own tariffs, and others may follow. The world is being forced into trade blocs and protectionist corners. Islamic economies, particularly those dependent on export markets—like Malaysia, Indonesia, and even parts of the Middle East—stand to lose significantly. The result? Greater inequality, disrupted supply chains, and rising food and energy insecurity.
The Islamic Economic Alternative: Justice and Interdependence
The Islamic economic system envisions a world of interdependence based on moral values. Trade is a bridge, not a battleground. Protectionism must be measured, not malicious. Policies must promote the maqasid al-shari’ah—preservation of wealth, life, and dignity—not endanger them.
Instead of Trump’s chaos, we need international trade governed by mudarabah (risk-sharing), sukuk for infrastructure development, and transparent mechanisms that elevate developing economies rather than suffocate them.
Muslim-majority countries, especially those in the OIC, must use this moment to reevaluate their dependency on unpredictable partners and instead pursue regional trade, South-South cooperation, and Islamic economic integration. The Islamic Development Bank and institutions like D-8 must step up with frameworks that promote intra-OIC trade based on principles of equity, not economic blackmail.
Conclusion: Chaos as a Symptom of Deeper Decay
Trump’s tariff theatrics are not an isolated event—they are symptomatic of a deeper corrosion of global economic ethics. For Islamic economists, the lesson is clear: the time has come to build parallel economic institutions rooted in moral clarity, strategic foresight, and inclusive prosperity.
The Qur’an reminds us: “Woe to those who give less [than due], who when they take a measure from people take in full. But if they give by measure or by weight to them, they cause loss.” (Surah al-Mutaffifin 83:1-3). That, precisely, is the spirit of Trump’s tariff regime—mutaffifin economics. It is neither sustainable nor just.
Let us not merely watch this TV show from the sidelines. Let us offer a better script.

In Memoriam: Professor Khurshid Ahmad (1932–2025). An Intellectual Giant and Father of Islamic Economics.

Absent from Abuja, Present in Paris

Collateral Damage: The Global Fallout of Trump’s USAID Cuts
Topics
- AGRIBUSINESS & AGRICULTURE
- BUSINESS & ECONOMY
- CULTURE
- DIGITAL ECONOMY & TECHNOLOGY
- EDITORIAL
- ENERGY
- EVENTS & ANNOUNCEMENTS
- HEALTH & EDUCATION
- IN CASE YOU MISSED IT
- ISLAMIC ECONOMY
- ISLAMIC FINANCE & CAPITAL MARKETS
- KNOWLEDGE CENTRE, CULTURE & INTERVIEWS
- OBITUARY
- OPINION
- POLITICS
- PROFILE
- PUBLICATIONS
- REPORTS
- SPECIAL FEATURES/ECONOMIC FOOTPRINTS
- SPECIAL REPORTS
- SUSTAINABILITY & CLIMATE CHANGE
- THIS WEEK'S TOP STORIES
- TRENDING
- UNCATEGORIZED
- UNITED NATIONS SDGS