User Review( votes)
As the world emerges from the pandemic, a range of trends are touted to disrupt the fundamentals of sectors and organizations – in the process shaping a ‘new normal’. Experts from The Next Organization share twelve trends that according to them will play an influential role in pushing the boundaries of economy, society, organizations and people towards new frontiers.
Shift in power
The ‘polarization of capital’ is getting stronger and China is becoming very dominant. Whilst the US remains the largest economy in the world today, China is rapidly taking over that role. Accelerated by Covid-19, China is expected to become the largest economy by 2028.
As part of this growth, China is expanding its influence in Europe. In 2020 the large majority of outbound Chinese M&A deals were European. Furthermore, targeted European Corona aid to countries such as Italy and Serbia, bought China international prestige, influence and support. In addition, many companies are very dependent on their Chinese trading partners. Their dependency is expected to increase further, with the ‘Belt and Road Initiative’: the new silk road.
To prevent Europe from lagging behind the US and China, the European Union needs to act as truly one union. Europe needs to build complementary partnerships regarding topics such as (work) migration, security and climate change. Such collaborations reduce risks and costs and accelerate growth by increased market power, removal of (trade) barriers and creation of jobs.
When European companies and countries work together, they remain competitive on a global scale and preserve their strategic autonomy.
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