As calamitous as the pandemic’s effect has been on economies worldwide, in many cases, it has only fueled concerning issues that pre-dated it. COVID-19 will eventually be consigned to our past, but its effects will linger on for decades. What are the four questions we need to ask ourselves now to shape the best plan of action toward economic healing, sustained recovery, innovation, cooperation and prosperity while avoiding potential landmines?
The New Era of Globalization, propelled by the rapid technological advancements of the Fourth Industrial Revolution and widespread concern for sustainable development goals, would seem to be on a road undergirded by groundbreaking potential. Yet, there are potholes on the way, not the least arising from growing populist movements. What are some of the damaging risks to avoid and positive disruptive opportunities to foster along this uncharted path?
The trend toward global interconnectedness has never been stronger, with innovation and technology helping to make the impossible now possible. The rewards are vast in terms of reduced cost, increased opportunity and greater inclusion, but there is an obstacle that is slowing progress: existing proprietary banking infrastructure. Fortunately, that’s not the end of the story, as the way is being paved for full worldwide banking integration.
The battle between the globalists and the populists has captivated people around the world, including investors, who are today inclined to place political news ahead of the more tried-and-true economic indicators in making decisions. Despite the turmoil in politics, though, many leading economies, especially that of the US, are doing rather well, with no major storms on the visible horizon.