ISMAIL LAGARDIEN: The economic outlook for our grandchildren looks bleak
Human progress is slowing to a crawl, as world-changing inventions taper off in frequency
There is more than enough pessimism out there about our collective future as communities, a society and a species. As stimulating a topic as this may be, an in-depth discussion of the threats to our species is for another time.
A snapshot of the global political economy provides the basis for this pessimism. There are threats of global inflation, dedollarisation, recurrent tensions among powerhouses — notably the US and China, but also between Brics and the rest — military conflict in parts of Africa, Western Asia and the war in Ukraine, appropriately described by economist Branko Milanovic as a “continental war between two Eurasian powers”. ..
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