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Asia’s Economic Transformation in a Disruptive and Uncertain World Read chapter Read first chapter

2018 | OriginalPaper | Chapter

2. Life Under the “New Normal”

Author : Pongsak Hoontrakul

Published in: Economic Transformation and Business Opportunities in Asia

Publisher: Springer International Publishing

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Abstract

Combining two powerful concepts, the Lewis Turning Point and the long-run cycle of the rise and fall of nations, provides a simple framework to better understand how Asia works economically. The world’s “new normal” setting is for subpar growth, low inflation, and low interest rates after the 2008 global financial crisis. Productivity, indebtedness, and “luck” are the three main determinants of the relative performance of nations. People evolve psychologically with the dynamics of national economic development, an interplay that influences their choices to work, consume, or pursue leisure. And all this is subject to disruptions and uncertainties such as political polarization, technological advances, and the new presidency of Donald Trump. Successful investment and business strategy and policymaking require understanding these dynamics.

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Appendix
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Metadata
Title
Life Under the “New Normal”
Author
Pongsak Hoontrakul
Copyright Year
2018
Book
Economic Transformation and Business Opportunities in Asia

Print ISBN: 978-3-319-58927-5

Electronic ISBN: 978-3-319-58928-2

Copyright Year: 2018

DOI
https://doi.org/10.1007/978-3-319-58928-2_2