McKinsey and Company economist Ezra Greenberg says the global economy is at a “historic crossing point,” as it emerges from the COVID-19 pandemic.
“It is difficult to say if the economy will get better or worse than before COVID, but there is no doubt it will be transformed,” he told more than 300 business leaders at CBIA’s Sept. 23 The Connecticut Economy conference.
Greenberg [pictured above] shared five critical factors impacting the recovery:
- A changing world order, including Russia’s invasion of Ukraine and U.S. competition with China
- COVID’s impact, including China’s response to the virus, and corporations focusing more on stakeholders
- Demographic shifts such as Baby Boomer retirements in the West and reaching global “peak child”
- Technology changes, including the rapid acceleration in virtual communication brought on by COVID and innovations in AI
- Climate change, most notably the shift from fossil…
