Foresight 2020 will focus on new economy industries, ranging from electric cars and renewable energy to the digital economy and the development of new technologies. Topics in this report will inlcude:
- Insurance Sector: Climate Change’s Collateral Damage
- Electric Vehicles: Electricity in the Fast Lane
- Malaysia and Thailand: New Digital Drive
- New NAFTA: Mexico’s Hopes and Dreams
- This Time in Africa: Demonetisation in Kenya
- Western Balkans: Europe’s East Yard
Editorial Voice
Macroeconomic Outlook
In the shadow of a fierce trade war between the two world's largest economies, never-ending negotiations over Brexit and increasing geopolitical turmoil in the Middle East, the world is preparing for the first synchronised economic slowdown since the end of the global financial crisis in 2009. While the economic data for the major economies since the beginning of the year has been highly volatile and mainly driven by the news, there have been clear signals that the expansionary cycle stage in the United States and the rest of the advanced economies is going to an end.
New Economy
As traditional drivers of development seem no longer sufficient to drive growth, countries around the world are increasingly looking for new economic drivers. The depleting conventional energy sources initiated an evolution that spans way beyond the energy field. The need for diversification away from oil and gas brought the use of renewable energy sources, the conversion from conventional to electric vehicles, the development of brand new technologies for conservation of energy. The modernization is going further with automation and digital economy-boosting productivity. Success depends on the right mix of smart investment, skilled workforce, innovation capacity and effective governance
New Trade Policies
With the escalation of the US-China trade war and the increasingly protectionist policies of the Trump administration, other regions started to look for free trade agreements (FTAs) to alleviate the effects of market losses. In 2019, 54 of the African Union’s 55 members have signed up for Africa Continental Free Trade Area (AfCFTA), which will be the world's largest free trade area by a number of countries once it’s fully up and running. Up east, 15 Asian countries agreed on terms of another major free trade agreement - The Regional Comprehensive Economic Partnership (RCEP) – that has the ambitious objective to further integrate the ASEAN Plus Six into a fully functioning trade area. The EU is on the verge of expanding its already large trade network by negotiating an FTA with Mercosur, currently halted by environmental issues in the Amazon. Meanwhile, the US is pushing for USMCA or “the new NAFTA”, a trade agreement regarded as more favourable by the US side.
Emerging Markets: 2020 Outlook
M&A activity witnessed another year of a slowdown in 2019 with all regions registering fewer deals than in 2018. Still optimist ahead.