Deutsche Bank International Private Bank’s latest special report “New growth realities – Embracing Kairos” looks at the impact of COVID-19 on the global economy, as attention shifts to economic recovery and what this will mean.
“Kairos”, for the ancient Greeks, described an opportune moment for change. And, as the report argues, new growth realities will be determined not only by economic and financial issues, but also by social and political needs. The report argues that:
- Growth disparities are certain. The path to recovery will not only be long and bumpy, but also uneven across countries and regions. Inequality may widen both within and between economies.
- ESG is integral to recovery, not optional. The crisis has emphasised the interconnectedness of social, environmental and governance factors in both public and private sectors. Future policy will reflect this.
- Technology is key to future transformation. We are still only at the start of a process of firm and workplace transformation, with underlying productivity issues still unresolved. IT will be called on to solve multiple problems.
“New growth realities – Embracing Kairos” sets out the likely policy implications and the other key economic and political dimensions that will define our future world – including increasing debt levels, changing consumer behaviour, and redefined production supply chains.
The report has been written in collaboration with the bank’s Government and Regulatory Advocacy specialists.