Vučić at World Congress of Economists: We must keep pace with innovative technologies and artificial intelligence

Serbian President Aleksandar Vučić addressed the World Congress of Economists in Belgrade, emphasizing the turbulent economic times the world is facing. He described a shift from a predictable economic environment to one characterized by fragmentation despite interconnectedness, presenting significant challenges.

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The world is completely different, but no one can stop and prevent countries that are faster, have less bureaucracy, and can perform tasks efficiently and without obstacles, and that is simply a warning sign for all of us in Europe. When I say Europe, I mean Serbia too. We are lagging behind China and the US in various aspects; if we don't change, this gap will deepen.

Vučić pointed to Europe's efforts to protect its economy, industry, and IT sector, noting its difficulty in competing with the technological dominance of the US and China. He issued a stark warning to Europe, including Serbia, that they are falling behind and risk widening the gap if they do not adapt quickly. "We are lagging behind China and the US in various aspects; if we don't change, this gap will deepen," he stated.

He also discussed the evolving nature of globalization, asserting that it is not ending but transforming. Vučić cited a significant increase in trade exchange and highlighted the re-emergence of industry as a strategic asset, moving beyond purely economic considerations. He stressed that citizens are primarily concerned with job creation, improved living standards, and a better future, rather than abstract theories.

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Perhaps the biggest mistake we can make is to say that globalization is ending. It is not ending, it is changing. The average growth of trade exchange has increased by nine percent, compared to two percent in the last decade.

Addressing the concept of multipolarity, Vučić suggested that a major mistake would be to declare the end of globalization. Instead, he argued for managing differences responsibly and ensuring cooperation does not come at the expense of competition. He concluded by noting that Serbia ranked as the fourth fastest-growing economy in Europe in the first quarter of the year, with projections for further improvement.

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Whether we like it or not, we are entering an era of economic interdependence without political unification.