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The blessed and the not-so-blessed economies

30 1
15.04.2024

The world economy is in transition. The richest economies were exposed during Covid. Their might of resources was questioned.

The height of knowledge was mocked. Having had a torrid time during COVID, the aftermath of spiraling inflation has made growth unsustainable in the hitherto developed models. This has opened up many possibilities. The possibilities of new players.

The opportunity for the challengers to become more agile. The emergence of slumbering economies. Some would say wait and let the bad times pass. Others would say accelerate and push past the strugglers.

The world in 2030 is likely to go through interesting changes. Some regions will remain dominant while others will go down.

However, some countries in the regions that are going down will manage to defy the odds. These are all indicators of the environment having an impact, but individual responsiveness will remain more important than environmental odds.

The West has ruled the world post— World War II. The American economy became the most affluent economy with its defence, automobile and electronics industry serving most of the world. Japan had to deal with the dissolution of their empire and the atomic bombings of Hiroshima and Nagasaki. China was a closed economy that would soon fall into civil war, and Europe faced the difficult task of rebuilding after years of war.

The US took the opportunity to affirm its status as a global superpower. The century ended with the Far Eastern region emerging as a major player. China is........

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