In 2010, the global financial system remained fragile, but economies around the world began moving toward recovery. Some — especially those in emerging markets — hardly broke stride, continuing their rapid growth.
Our report, Tracking global trends, looks at six broad, long-term developments that are shaping our world:
- Emerging markets increase their global power
- Cleantech becomes a competitive advantage
- Global banking seeks recovery through transformation
- Governments enhance ties with the private sector
- Rapid technology innovation creates a smart, mobile world
- Demographic shifts transform the global workforce
Global economies are so tightly interconnected that companies, governments and industries will soon be forced to cooperate in ways we could not have imagined just a few years ago.
In fact, Ernst & Young believes the six trends are themselves connected by three underlying drivers that have helped establish each trend and perpetuate it.
- Demographic shifts. Population growth, increased urbanization, a widening divide between countries with youthful and quickly aging populations and a rapidly growing middle class are reshaping not only the business world, but also society as a whole.
- Reshaped global power structure. As the world recovers from the worst recession in decades, the rise of relationships between the public and private sectors has shifted the balance of global power faster than most could have imagined just a few years ago.
- Disruptive innovation. Innovations in technology continue to have massive effects on business and society. We’re now seeing emerging markets become hotbeds of innovation, especially in efforts to reach the growing middle class and low-income consumers around the globe.
Six global trends, interconnected by three key drivers of change
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