Global income equality has improved over the last 40 years, but the story in advanced economies is less positive. We look at the key drivers of this phenomenon and their implications, as well as the economic outlook. We argue this trend will force global companies to embrace ESG criteria at a faster speed, with the fast movers likely to be outperformers.
Over the last decade, since the end of the Great Financial Crisis (GFC), more and more adverse “side effects” of previously hailed economic, technological and political “megatrends” have come to the fore. On the economic side, the most important megatrend can be dubbed a (second) era of globalisation, with the integration of large parts of the world (esp. Eastern Europe and Asia) into the US-led capitalist system.
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