What will the world look like for 2012?
Gary’s thought for the month
The Economist has always been a favourite read of mine and I particularly look forward to their annual world review and predictions. Its a great read in the ‘downtime’ between Christmas and the New Year.
So, what will the world look like for 2012?
Well according to the Editor, Daniel Franklin
The euro zone could head back into a recession due to indecisiveness of politicians while America will ‘suffer self-induced stagnation and find itself outgrown by Japan, let alone China’.
Elections in all parts of the globe will take over media headlines; Obama will fight for a second term in the White House, Sarkozy will also be looking for the French votes against Hollande while both China and Russia will also see a switching of power.
However, Franklin’s concerns are not for these elections but for parts of the world ‘where dramatic change could come: Venezuela, for example, where Hugo Chavez will battle for his political life and the sub-Saharan Africa where the Arab spring could spread’.
Emerging markets will for the first time buy over half the world’s imports in 2012 and China will get closer to overtaking America as the world’s biggest importer.
In technology, Facebook will test records as it goes public.
Within the UK, London will be a hive of activity throughout the summer months while we host the Olympics. However, fear for the future of London and the financial industry when the Olympics are over is growing.
Franklin does reassure us that the world won’t end in 2012 despite the supposed Mayan prophecy, but the challenging times will continue.
Read more:
The Economist, The World in 2012, January 2012
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“Within the UK, London will be a hive of activity throughout the summer months while we host the Olympics. However, fear for the future of London and the financial industry when the Olympics are over is growing.”
There’s more to the UK than London and financial services. We should invest more in our brilliant engineers, scientists and technologists. We have a thriving development and manufacturing sector, but only in niche markets or on a small scale. Let’s take those *anker’s bonuses and stick them where they could do some real good – in the pockets of our innovative, clever and cash-strapped manufacturers.
Danny you are right – there is more to the UK and London than the financial services and we should invest in other areas but how can we do this without the support of financial services?