Sources of Growth in a Slower Growth Global Economy
by J. Walker Smith, Andrew Curry, Joe Ballantyne and Mark Inskip
Slower growth is the new normal for the global economy, and it has business leaders worried. The fear is “a world of zeroes,” the phrase used by Nigel Wilson, Global CEO of insurance giant Legal and General, to describe a world of zero inflation, zero GDP growth per capita, and zero productivity growth. In short, a global economy in which progress is zeroed out.
Defying gravity in order to grow despite the slowing tug of the marketplace is an undertaking unfamiliar to a generation of business leaders weaned on hardy growth. The critical imperative of future success will be creating demand, not the classic textbook lesson, fruitful for so long, of following trends.