Recently the NY Times published that "Every One of the World’s Big Economies Is Now Growing" and that there is "a synchronous wave of growth that is creating jobs, lifting fortunes and tempering fears of popular discontent." Yet, there are a number of threats that feel like mines could "go off" unexpectedly and these are creating an environment that was experienced at and described after the World Economic Forum in Davos.
Sebastian Roche points out on his blog (Expatriatus), that French President, Emmanuel Macron warned everyone not to be naive as "globalization is going through a major crisis." On the other hand, his recent post goes on to declare that, "During the forum the positive global economic forecast was also presented, promising the global economy to continue to recover in 2018 and 2019 due to active trade and investment. Yet, given continuous geopolitical risks, it can hardly be left to its own devices."
The one reference that stood out to me in the blog was that according to The Globe and Mail, this year’s mood in Davos could be characterized "by growing optimism tinged with anxiety."
To further support the theme, PWC recently posted, "CEO optimism booms despite increasing anxiety over threats to growth." Four of their points:
- Optimism in global economic growth reaches record level and rises in all countries
- U.S. reinforces its lead on China as a target market for growth in 2018
- Over half of CEOs expect their headcount to increase
- Terrorism, geopolitical uncertainty, cyber and climate change rise as threats to growth
How will your mobility program be impacted in this positive economic environment that is tinged with anxiety around a wide variety of geopolitical and environmental fears?
Based on the main theme of the forum this year, which was ‘Creating a Shared Future in a Fractured World’, we may assume that alongside the realistic view of the current situation, there is also a positive outlook for the future. According to The Globe and Mail account, this year’s mood in Davos could be characterized ‘by growing optimism tinged with anxiety’. Indeed, as reported in Deloitte’s recent report, we are currently experiencing synchronized momentum of the world economies, and the outlook for businesses around the world is positive, hence the optimism. At the same time, the challenges of globalization, as well as the worries over populist and protectionist tendencies were still present.