Agenda Dialogues
Future of Growth
Jan 21, 2025
Adena Friedman, Chair and CEO of Nasdaq, discusses innovation’s role in economic growth. Faisal Alibrahim, Saudi Arabia's Minister of Economy and Planning, shares insights on the country's Vision 2030. Lawrence H. Summers, Harvard's professor and former U.S. Treasury Secretary, highlights global economic challenges. Ana Botín, Executive Chair of Banco Santander, emphasizes the importance of private sector involvement and effective regulation for sustainable growth. The conversation dives into decoupling growth from resource exploitation and navigating complex trade dynamics.
48:51
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Quick takeaways
- Global growth is projected to remain sluggish at 3.3% in 2025, necessitating proactive measures for sustainable advancement and adaptation.
- The effectiveness of the private sector as a driver of innovation underscores the need for smart regulation that fosters creativity while minimizing burdens.
Deep dives
Global Growth in a Complex Environment
Current global economic growth is generally tepid, with estimates between 3.2% and 3.5%, which falls below the historical average of 4%. Various factors contribute to this stagnant growth, including shifts in globalization towards more fragmentation. To overcome these challenges, proactive measures should be taken to establish rules and frameworks that can facilitate smoother international trade and innovation. Countries must focus on building the right institutional capabilities and investing in human capital to improve their adaptability in a dynamic global economy.
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