In an era when globilisation is the order of the day, its is imperative that businesses understand the impact of global economic trends to succeed. This is the key to emerge successful in any area of industry. In fact, keeping a close watch on the global economy can help you address various business aspects like growing income inequality and the reasons behind it.
So, what are the factors that lead towards it? According to the World Economic Forum 2015 report, these were some of the alarming business trends that had emerged:
1> Deepening income quality
2> Persistent joblessness
3> Lack of leadership
Whether you are the CEO of a multinational or a sole proprietor, it pays to have a sense of where the opportunities lie and the dangersthat lurk in the coming years. Outlook published a report wherein they insisted that the global economy is taking longer than expected to recuperate from the bursting of the debt bubble during the last decade. Three years ago, the IMF projected that the world economy would be back on track by 2015, growing at 4.8 percent. The U.S. has pretty much met the IMF’s (diminished) expectations. The disappointments, says the IMF, have been the BRIC nations Brazil, Russia, India, and China as well as parts of the Middle East, Europe, and Japan.
That has led the IMF to reduce its forecast for 2015 global growth to 3.2 percent. It projects 3.1 percent growth for the U.S. next year, just 1.3 percent in the euro area, and 0.8 percent for Japan. China’s projected 7.1 percent growth, high compared with other nations’, would be the country’s lowest in 15 years.
Understanding the importance of the global economic trends, Myra School of Business, Mysuru will be organising a talk on ‘Global Economic Trends & Implications for India’on December 22, 2015 at 11:00 am by acclaimed Dr. Gita Gopinath, John Zwaanstra Professor of International Studies and of Economics, Department of Economics, Harvard University. At the event, she will be inducted to the MYRA Women Achievers Hall of Fame (WAH 2015).
Mr. Ashok Baweja, Head, Quest Global Defense and Former Chairman, Hindustan Aeronautics Limited will be the Guest of Honour and induct Dr. Gita Gopinath into Women Achievers Hall of Fame at MYRA.
About Dr. Gita Gopinath:
Dr. Gita Gopinath is John Zwaanstra Professor of International Studies and of Economics, Faculty of Arts and Sciences, Department of Economics at Harvard University, USA. She is a visiting scholar at the Federal Reserve Bank of Boston; Managing Editor of the Review of Economic Studies; co-editor of the current Handbook of International Economics; and a research associate with the National Bureau of Economic Research (NBER) for the programs in Economic Fluctuations and Growth, International Finance and Macroeconomics, and Monetary Economics. Earlier she was an Assistant Professor of Economics at the University of Chicago's Graduate School of Business and also served as a member of the Eminent Persons Advisory Group on G-20 Matters for India's Ministry of Finance. She is also an alumni of the prestigious Lady Shri Ram College for Women, Delhi University. She also holds postgraduate degrees from the Delhi School of Economics and again from the University of Washington; and PhD from Princeton University, Princeton, New Jersey, USA under the mentorship of Ben Bernanke (former chairman of the Federal Reserve) and Kenneth Rogoff (former director of research at the International Monetary Fund).
She was chosen the Young Global Leader by the World Economic Forum in 2011.