Bangladesh, March 21 -- The world is witnessing an era of heightened political polarization and escalating trade wars, reminiscent of the Cold War era but with an even greater economic impact. These developments, often intertwined, have significantly altered the global economic landscape. The trade war between the United States and China, for instance, has had ripple effects worldwide, while even close allies such as the US and the European Union, Canada, and Mexico have found themselves engaged in economic disputes. The resulting economic uncertainty has manifested in slowed global growth projections, declining stock markets, and volatile commodity prices.

Amid this turbulence, Saudi Arabia and its Gulf Cooperation Council (GCC) allies ...