Investing in people can no longer be an afterthought — it is a fundamental building block of growth and resilience in the Fourth Industrial Revolution. Competitiveness is still key for improving living standards, but policymakers must look at the speed, direction and quality of growth together at the dawn of the s.
Sustained economic growth remains a critical pathway out of poverty and a core driver of human development and living standards. Yet, it is not enough on its own as we look towards solutions for the two greatest challenges of the next decade: building shared prosperity and managing the transition to a green economy.
The traditional prevailing view has been that equality or sustainability must come at the price of growth. We find the opposite to be true — a lack of shared prosperity and environmental sustainability corrodes productivity growth.
Moreover, there is a clear moral case for focusing not just the speed of growth but also its direction environmentally sustainable and quality generating shared prosperity. It is possible for an economy to be growing, inclusive and environmentally sustainable — but more visionary leadership is needed to place all economies on such a win-win-win trajectory. The perceived trade-offs between economic, social and environmental factors may emerge from a short-term and narrow view of growth but can be mitigated by adopting a holistic and longer-term approach to growth.
However, most countries have very different results on social and environmental factors for the same level of current competitiveness. The latest Global Competitiveness Report shows us that the transition to a greener and more equal economy is not just possible but imperative for restoring productivity. The technologies of the Fourth Industrial Revolution offer us the tools to realize this vision. But there is nothing deterministic about this shift.
Dollar has weakened in the past. A good news for India, there are strong signs of comeback for thedeveloping countries in the coming years. With a much greater need than ever, economic reforms in developingcountries like India would drive productivity higher and therefore, could leadto better economic growth. With growth in digitization, there will be a surge in economy especiallydue to ease in the financial banking sector as well as opening stock market tomore players!
From an individual investment point ofview, it is highly suggested to not make a substantial investment in the topcompanies as their growth rate would tend to drop. Instead, a preferable choicewould be new upcoming challengers who are more local and cater to the userneeds in a more attractive way.
Although many suchtrends will see a downside when people get back to somewhat older lifestyle butthis hype of OTT is forecasted to outlast the pandemic era. Ashiana, Ashiana Housing build homes. Homes surrounded by vast green spaces and fresh breeze. Homes cocooned in secured gated complexes. Homes where futures are forged and there are opportunities to grow.
And Homes in environments brimming with healthy activity, trust and respect. At heart, we build communities with care. Other posts by Ashiana. Get expert real estate knowledge straight to your inbox absolutely free. Just enter your email address below. Username or Email. Remember Me. The U. Gross domestic product is projected to accelerate 9.
In a pre-pandemic world, that would have put annualized growth at its fastest level since the second quarter of However, the current circumstances and the outsized policy response they generated make this merely the third straight quarter of GDP that sits well above the post-Great Recession trend. The economy is creeping back toward normal, the open checkbook from Congress is about to get tighter, and millions of sidelined American workers will be returning to their jobs.
The tailwind just blows less strongly, and may stop altogether by this time next year. These statistics provide a comprehensive, up-to-date picture of the U. The data on this page are drawn from featured BEA economic accounts. Real gross domestic product GDP increased at an annual rate of 2. The deceleration in real GDP in the third quarter was led by a slowdown in consumer spending. A resurgence of COVID cases resulted in new restrictions and delays in the reopening of establishments in some parts of the country.
In the third quarter, government assistance payments in the form of forgivable loans to businesses, grants to state and local governments, and social benefits to households all decreased. The decrease in personal income primarily reflected the winding down of pandemic-related assistance programs. The personal saving rate that is, personal saving as a percentage of disposable personal income was 7.
The U. Bureau of Economic Analysis. The second quarter deficit was 3. Bureau of Economic Analysis and the U. Census Bureau. Expenditures by foreign direct investors to acquire, establish, or expand U.
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