The most recent recipient of the Nobel Prize in economics will give his views on the world economy and how the UAE fits into the overall economic landscape at an upcoming Megatrends conference.

Dr Paul Krugman, Professor of Economics at Princeton University, deliver his keynote address during the ‘MegaTrends: Essential Strategic Insights’ conference at the Emirates Palace Hotel in Abu Dhabi on May 25.

Held under the patronage of Sheikh Hamdan Bin Zayed Al Nahyan, the conference is organised by Aim Events, in conjunction with Abu Dhabi University (ADU) and the UAE Ministry of Economy.

‘MegaTrends: Essential Strategic Insights’ is the first forum of its kind to balance international experience with local insights to map a way forward for the UAE economy and financial markets.

“Professor Krugman’s extensive work in international economics, including work on international trade, economic geography and international finance, has led him to be cited as among the 50 most influential economists in the world today,” said Ali Saeed Bin Harmal Al Dhaheri, chairman of ADU.

“Professor Krugman’s presentation will address issues such as when the global economy will truly reach the bottom and begin to bounce back, examine whether the response of Western Economies to the economic slump is effective and scrutinise which country has the right plan for economic recovery,” he added.

“Participants to the conference will gain important strategic insights for their organisations’ financial future, while better understanding the strength of Abu Dhabi in the new world economy.”

In addition to the Nobel Prize, Krugman’s work in economics has earned him worldwide acclaim in the field of international trade and economic geography.   He is a well known author and authority in his field and is a member of President Obama’s economic advisory team.

Professor Krugman has famously been quoted as saying it is time the banks reverted “to becoming boring again” and to return to their basic fundamentals.

In his speech at Megatrends he is expected to preach his philosophy that governments should be cautious in their handling of their natural resources and not to squander the income generated during the good times, preferring instead to build up “rainy day funds” that can be drawn upon when economic times get bad. – TradeArabia News Service