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The digitalization divide: opportunities and challenges in emerging markets
In GZERO’s livestream event presented by Visa, a panel of geotech experts delved into the pivotal role of digitalization in shaping the global economy. One striking revelation emerged: Nearly three-fourths of all new value created by the end of this decade will be rooted in digitalization and digitally enabled business models. This underscores the seismic shift toward a digital-first world. While the prospects of this digital revolution are promising, Alexis Serfaty, director of geotechnology at Eurasia Group, highlighted a stark reality: Over 2.5 billion people still lack access to the Internet, effectively excluding them from the digital economy.
This digital divide poses a substantial risk as the world becomes increasingly digitized. As digital businesses flourish, there is concern that economic disparities could worsen, potentially leading to social instability in some regions.
To learn more about the challenges and opportunities that nation-states face when it comes to digitization, and how it could shape a more inclusive and resilient future, watch the full livestream conversation:
What Ukraine's digital revolution teaches the world
Emerging markets most vulnerable to recession and political discontent
Inflation shockwaves is Eurasia Group's top geopolitical risk No. 4 for 2023. But who is most vulnerable to the effects of rising interest rates and a looming global recession?
Emerging markets.
Why? For Rob Kahn, managing director for geo-economics at Eurasia Group, these countries are in deep trouble because they have higher debt and more subject to sudden stops of capital flows that'll make it harder for them to pay for stuff. Not to mention that the pandemic has killed any fiscal monetary policy space they had before COVID, Kahn noted in a GZERO Live conversation about Eurasia Group's Top Risks 2023 report.
Kahn also shares his thoughts on the implications of a global recession and the politics of central banks fighting it.
Read Eurasia Group's Top Risks 2023 report here.
Watch the full live conversation: Top Risks 2023: A rogue Russia and autocrats threatening the world
Will China determine the fate of the world?
Who's the most powerful person on the planet right now? Xi Jinping, who just got a third term as boss of China's ruling Communist Party and got all his loyalists appointed to the CCP's top decision-making body. But having so much power comes with big tradeoffs.
Zero-COVID is saving Chinese lives, yet killing the Chinese economy. And Xi is feeling the heat from his increasingly muscular foreign policy.
On GZERO World, Ian Bremmer speaks to Antoine van Agtmael, the investor who coined the term "emerging markets" and knows a thing or two about China. He believes China is now the second largest economy in the world and soon to surpass the largest, the United States.
For van Agtmael, that means a world that'll be "less nice" because the forces of globalization will be weaker. China will lead one power bloc and the US the other.
So, how much will the future of China determine the future of the world?
This interview was featured in a GZERO World episode: Chinese power
China's innovation means it's winning, says investor
What will the world look like in the Chinese century?
It'll be "much less nice," emerging markets investor Antoine van Agtmael tells Ian Bremmer on GZERO World. A lot of that has to with tech innovation coming from a society in which thought is controlled.
China, he adds, is making remarkable progress and is close a breakthroughs on things like nuclear fusion or artificial intelligence.
For van Agtmael, China still faces many challenges. But he's optimistic about its chances of overcoming them to become a true global power.
Watch the GZERO World episode: Chinese Power
How globalization backfired
Antoine van Agtmael knows a thing or two about emerging markets.
In fact, he coined the term for investors two decades ago. That's back when when we believed that globalization would create a global middle class.
"We believed in globalization. We believed that it would make the world better," van Agtmael tells Ian Bremmer on GZERO World.
And it did, in many ways.
Watch the GZERO World episode: Chinese Power
Chinese power
Xi Jinping just got a rare third term as the head of China's ruling Communist Party. But having so much power comes with big tradeoffs and implications for China — and the rest of the world.
Zero-COVID is saving Chinese lives, yet killing the Chinese economy. And the West is wary of Xi's increasingly muscular foreign policy.
On GZERO World, Ian Bremmer speaks to Antoine van Agtmael, the investor who coined the term "emerging markets" and knows a thing or two about China. His prediction: that the 21st century will be a Chinese Century, with Washington playing second fiddle to Beijing.
For van Agtmael, that means a world that'll be "less nice" because human rights will take a backseat and the forces of globalization will be weaker. China will lead one power bloc and the US the other.
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Podcast: What if China’s power keeps growing?
Listen: As China's leader Xi Jinping begins an unprecedented third term in office, it's fair to ask: how much will China's future affect the whole world? On the GZERO World podcast, Ian Bremmer speaks to global markets expert and investor Antoine van Agtmael, who believes that this will be the "Chinese century."
They discuss the future of globalization and whether the term “emerging markets”— a term coined by Agtmael himself to describe nations transitioning to developed economies – still applies to much of the world. Some of those economies are in decline, but some like China have gone beyond that category. In fact, China is now the second largest economy in the world and is set to surpass the largest, that of the United States.
Subscribe to the GZERO World Podcast on Apple Podcasts, Spotify, Stitcher, or your preferred podcast platform, to receive new episodes as soon as they're published.
Is the world on the brink of another global recession?
The global economy's 2023 outlook is ... bleak. Why? Ayhan Kose, the World Bank’s chief economist for Equitable Growth, Finance, and Institutions, says that unlike the 2009 and 2020 global recessions, next year's likely slowdown in economic activity — coupled with growing inflation — could be more like the one of 1982, which also came with a string of debt crises.
And with growing food insecurity and climate change challenges ahead, for emerging markets and low-income countries, “things are going to get worse before they get better,” Kose says. “That’s why the global community has to show willingness, consensus, and at the same time, financing, to address these problems.”
Kose spoke with Shari Friedman, Eurasia Group's Managing Director, Climate and Sustainability in a Global Stage interview on site at the World Bank/IMF fall meetings in Washington, DC.
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- Podcast: China's economic head start & a world accelerating into recession - GZERO Media ›
- Emerging markets most vulnerable to recession and political discontent - GZERO Media ›