The 61st issue of the Arab Economic Bulletin includes four pivotal Arabic and two English studies.

It addresses issues that are pivotal to Arab development in light of the historical transformations that the Arab region is going through and the challenges it faces on the way to reform and enhancing economic efficiency. This allows the Arab economy to join the ranks of developing countries that have created an influential position for themselves in the global economy.

The first study is titled: Cryptocurrencies and digital currencies...the current global financial system towards a new system? Cryptocurrencies have imposed themselves strongly on the global economy currently, especially with the increase in their spread and circulation in various parts of the world, as the size of this currency market reached about 2.26 trillion dollars in 2023, with expectations that the digital currency market will reach more than $5.5 trillion by 2032, with a compound annual growth rate of 10.2 percent during the period 2024-2032. The market is experiencing strong growth driven by increasing institutional adoption, continued retail investor interest, technological innovations, and the potential for cryptocurrencies to be used as alternative investments and store of value in an evolving global financial landscape. Revenues in the cryptocurrency market are expected to reach $51.5 billion in 2024 and will continue to grow at a compound annual growth rate of 8.62 percent to reach a total amount of $71.7 billion by 2028. While the number of users in the cryptocurrency market is expected to reach 992.50 million users by 2028.

As for the second study, it is entitled: “The BRICS group...a tremendous economic power. Will the “dollar hegemony” fall from its throne?!”  This study sheds light on the rising economic strength of BRICS, especially since at the beginning of the current year 2024, five countries officially joined the BRICS group, after the group, in August 2023, invited 6 countries to join its membership starting in January 2024, which is Egypt. Saudi Arabia, the Emirates, Iran, Argentina, and Ethiopia. Argentina was the only one that rejected the invitation after the new president, Javier Miley, who took office last month, withdrew the membership application submitted by his predecessor, explaining that the foreign policy of his new government differed in many ways from the policy of the previous government.

Expanding the group in this way after the five countries joined to become members of BRICS provides a tremendous momentum for the group that seeks to achieve balance on the economic level and compete with the G7, especially given the capabilities that the new countries have.

The third study is titled: “Stagflation: Coping Measures and Strategies for Flexibility and Resilience in the Arab World,” as the phenomenon of stagflation has emerged in the global economic scene as a critical challenge facing countries all over the world. This complex economic situation, characterized by simultaneous occurrence of inflation and recession, presents a paradoxical scenario in which the general level of prices for goods and services rises while economic growth slows, unemployment rates rise, and consumer spending declines. Unlike traditional economic depressions, where inflation typically subsides as economic activity declines, an inflationary depression entails a sustained increase in prices amid declining economic performance.

While the fourth study is titled: “The India Way”: The Logistics Renaissance for the Arab Private Sector,” as the “India Way” project, which is a visionary initiative unveiled during the 2023 G20 Summit in New Delhi, represents a milestone in the field of global logistics and international trade. This multi-faceted project includes two important corridors: the Eastern Corridor, which strategically connects India to the Arab Gulf states, and the Northern Corridor, linking the Gulf states to Europe. This initiative, which is receiving collaborative support from influential countries like India, the United States and the European Union, is not only a testimony of international cooperation but also a potential game-changer in the areas of global logistics and trade networks.

The fifth study is titled: “Africa: The Economic Expansion of the Arab Region, Opportunities and Challenges,” the study sheds light on the reality of Arab-African economic relations and the possibilities of developing them in light of the enormous opportunities enjoyed by the Arab and African sides. Africa, which is often referred to as the cradle of civilization, is a vast and diverse continent that includes 54 countries, each with its own unique cultural fabric and economic landscape. Known for its rich history, stunning landscapes, and vibrant cultures, it stands as a continent with enormous potential. The Arab world and Africa have always been intertwined by shared history, culture, and aspirations.

This study examines a new chapter in their relationship, where economic integration takes center stage. From the crowded markets of Cairo to the fertile plains of Nigeria, enormous potential for collaboration lies ahead.

The sixth study is in English and is titled: China-Arab Supply Chain Cooperation Among Global Business Associations. This study examines the potentials of cooperation between China and Arab countries, especially in light of China's position as a global industrial power, its rich natural resources, and growing markets in the Arab region. The potential for cooperation in the supply chain of mutual benefit is enormous. Bilateral trade between China and Arab countries has grown significantly, reaching more than $240 billion in 2022. The Arab world is also considered one of the most important suppliers of oil and gas to China, as it represents more than 50% of China's oil imports. While China has invested heavily in infrastructure projects in the Arab world, including railways, ports, and power plants. China and Arab countries have also established various joint economic mechanisms, such as the China-Arab Cooperation Forum (CASCF), to promote trade and investment cooperation. In addition, Arab countries are considered important importers of Chinese goods, as machinery, electronics, and textiles occupy the highest percentage of imports.