CATEGORY: Consultancy Reports
We can all accept it at this point: we live in uncertain times. To be sure, all countries, whether emerging or developed, experience a certain grade of incertitude – but some do more than others.
Mexico is coexisting with the biggest uncertainty hurricane of its recent history, particularly since the North American Free Trade Agreement (NAFTA), the 23-year-old treaty with the US and Canada, was sentenced to death by US President Donald Trump.
For decades, the Anglo-Saxon economic model has increasingly disenchanted the developing world. It has found the overemphasis on financial indicators and the lack of regard for people, the land and water, health and culture run counter to the long-term interests of society.
A shift towards recognising the interdependence of an economy’s various actors has been ongoing. In many ways, Thailand has been ahead of this curve and has taken up a leadership role globally, as it recognised early the possibility that other, superior ways of organisation may exist.
Emerging markets are in for another turbulent year with the strong US dollar and US President Donald J Trump’s “America First” stance both challenging conventional wisdom in trade and macroeconomic policy.
Much to everyone’s surprise, investors have so far responded to the new reality by embracing hope over fear. Trump’s fiscal stimulus of the US economy, it is said, may well end up boosting global demand and growth.