MELAKA, Malaysia — The Deputy Prime Minister of Malaysia has warned the youth of global trends that he said will influence and challenge them in the future.
Malaysian Deputy PM Datuk Serimi Utama Dr. Ahmad Zahid Bin Hamidi enumerated three “challenging” global trends that the youth need to be prepared for with the right skills and mindset.
“The first is the rich are aging and the poor are not,” Hamidi said at the Asia Urban Youth Assembly (AUYA) 2017 last Sunday.
Hamidi said the working-age populations are shrinking in wealthy countries like China and Russia but is growing in developing but poorer countries such as Africa and South Asia. He said this circumstance increases economic employment and urbanization pressures while also driving migration.
The deputy prime minister added that training and continuing education will be crucial in developed and developing countries alike.
Hamidi also said that the world population is forecast to jump from an estimated 7.3 billion to 8.8 billion by 2014, as Africa’s fertility rate doubles and the rest of the world and Asia’s working-age population soars. He added this puts Africa at a disadvantage since high-skilled workers are favored globally.
The second global trend Hamidi enumerated was the shift in the global economy. He said weak economic growth will persist in the near term.
Hamidi said China will attempt to shift to a consumer-driven economy from its longstanding export and investment-focused activities. On the other hand, wealthy economies will try to halt recent declines in economic growth to maintain recent progress in eradicating poverty.
“Major economies will be confronted with [a] shrinking workforce and diminishing productivity gains,” Hamidi said.
Hamidi said significant economic shift worldwide is happening because all are recovering from the financial crisis in 2008 to 2009 that left nations with high debt, weak demand, and doubts about globalization.
In the next five years, Hamidi said, the global economy will continue to struggle to resume growth. He added that nations will face political pressure to open up trade since China is leaning to redirect its economy toward consumption-based growth.
Aside from the economy and working age, Hamidi said the third global trend he considers challenging is climate change and health issues.
“A range of global hazards pose imminent threat and longer term threats that will require collective action to address even as cooperation becomes harder,” the deputy prime minister said.
Hamidi said tensions over the climate change will grow since there will be several disruptions. He cited weather water, soil stress and food insecurities as among the disruptions to societies.
“In conclusion, these trends will converge at an unprecedented pace that will make governing and cooperation harder and change the nature of power,” Hamidi said.
The deputy prime minister was addressing the youth delegates to the AUYA 2017 held in Melaka, Malaysia. The Philippines and 33 other nations were part of the assembly.
Hamidi said the AUYA 2017 “is an example of the youth saying 'yes' to any challenges.”