STEVEN KUO: The second decade of the 21st century will be a white-knuckle ride
The current shift in the global order and the resultant global uncertainty can be a blessing in disguise for SA
The previous period when the global order was in such disarray was during World War 2. At present, Europe and the US, via Ukraine, are at war with Russia. The EU is bracing itself for a cold winter and negative economic growth as it enters a period of almighty struggle with Russia, its former largest energy supplier.
The Chinese government has its own hands full. The once seemingly endless flow from populous rural areas to factories in the cities has all but dried up; the era of double-digit economic growth based on mass manufacturing has ended. Beijing needs to redouble its efforts and find ways to break through the middle-income trap and reinvent its economic model from mass production to one based on innovation and technology...
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