‘Growth is possible in 2009’

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.