Thai research institute identifies global post-pandemic trends

There is no doubt that in many ways, the world looks like a very different place now than it did before Covid-19. The Thailand Development Research Institute (TDRI) has identified a number of global megatrends that they say will be a big part of post-pandemic life. The institute says that industries will have to learn to adapt to these new trends in order to stay competitive and relevant in the modern world.

The director of TDRI says that there are 8 identifiable trends that will have the biggest impact on the global economy.

1. The competition between China and the United States, specifically over technology and trade. The TDRI reports that the economies of China and the US will begin recovering in earnest in 2022, and this growth will spur new innovation and competition between these two powers. Many other countries, such as Thailand, are not expected to get back to normal until 2023.
2. The integration of new, highly advanced technology into industry. New tech like artificial intelligence, quantum computing, blockchain, virtual reality and drones have the potential to totally upend the global economy.
3. The digitalisation of companies. The pandemic encouraged many businesses to transition to work from home or develop some other way of going contactless.
4. The growth of digital assets, like cryptocurrency.
5. The environmental movement, which will transform global industries and production by changing them to fit into more eco-friendly models. Decarbonisation and green energy will play an increasingly large role in the post-pandemic energy sector, according to the TDRI.
6. The growing demand for socially conscious business practices by consumers and investors.
7. The ageing global population. Global industries will have to stay innovative while also catering to an increasingly older consumer base.
8. The economic and political consequences of an expanding wealth gap – like growing welfare programmes, a rise in Socialist political policies, etc.

The TDRI concludes by pointing out that these trends present both opportunities and risks for Thailand. But understanding them is vital in order to keep up with the modern world.

SOURCE: Bangkok Post