It’s been coming for years, but now comes monetary and fiscal fusion in the form of expanding fiscal deficits financed by central banks.
Complex supply chains have increased the fragility of the global economy, and their fragmentation will accelerate leading to more localized supply chains.
The world will become less optimized, less global and more regional and national – but also more robust and less fragile.
Digitization of businesses and societies as well as the transition to the cashless society will accelerate.
There will be a fundamental reassessment of travel and how work is organized.
We are witnessing financial market history. The ‘black swan’ materialized with the advent of the coronavirus (COVID-19), but the virus was the trigger and not the cause. This is not a conventional crisis; it is a crisis facing individuals, families, communities, regions and countries all over the world. It is also a demand as well as a supply shock.