Companies and economies that steer through the present uncertainty should already be looking ahead to the next wave of growth. If companies can combine their strengths and valuable market knowledge with an understanding of global trends and risks and how they can be mitigated, then they can start preparing for the future rather than waiting for it to happen. This is the advice from Sheana Tambourgi, director and head of the World Economic Forum’s Global Risks Network. “Behind the figures of the International Monetary Fund forecasting a slowdown in global growth in 2009 lie a myriad different success stories. China, India, Russia and several of the Gulf States will all still have very robust growth in 2009. Beyond the current negative headlines, we are in fact witnessing the entry of a new cast of players that are fast emerging as the future drivers of global growth at a country, company and individual level,” says Tambourgi. “Looking forward, three trends are emerging as influential for future growth prospects at corporate, national and global level: first is the emergence of fastgrowing economies with large populations and rising middle classes – and here China and India are at the fore; second is the related increase in demand – and international competition for – capital, energy, goods and skills to meet demand and sustain growth; and third is the growing importance being placed on innovation and technology as sources of solutions for a range of global problems. The intersection of these trends will pose challenges but will also offer opportunities to both business and societies who have positioned themselves to meet them, in her view. “For those seeking capital, they may find that the lack of confidence in the major capital markets means private investors are more open to financing private corporations active in emerging markets with whom they can build a relationship of trust.
