Episode 889: Review of 2024's themes so far with Peter & Ralph...
Jun 23, 2024
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Peter and Ralph revisit the themes from the beginning of the year, including populism, near-shoring, renewables/nuclear, AI profitability, and corporate migration to the Middle East/India. They discuss rising populism, voter turnout trends in European elections, implications of near-shoring and de-globalization, transitioning to renewable energies, evolving AI landscape, and companies entering the Middle East/India for business growth.
Global dissatisfaction reflected in rising populism trends
Shift towards near-shoring to reduce reliance on Chinese supply chains
AI applications transitioning towards profitability-focused advancements
Deep dives
The Rise of Populism Worldwide
Populism is on the rise globally as seen through various elections such as the European elections. Voter turnout in European elections, traditionally used for protest votes, increased from 43% in 2014 to 51% in 2019, indicating a growing dissatisfaction with current policies.
Shift towards Near-Shoring and De-Globalization
There is a trend towards near-shoring and de-globalization, exemplified by the EU imposing taxes on Chinese EV imports. This move aims to reduce reliance on Chinese supply chains. Companies like TSMC are urged to have US production, reflecting shifts in manufacturing locations from China to other regions.
Renewable and Nuclear Energy Transition
The push for renewable and nuclear energy continues as a response to escalating energy demands. Advances in wind and solar power are notable, but challenges in reliability persist. The need for a diversified energy mix, emphasizing nuclear power's role as a CO2-neutral source, is foreseeably crucial.
AI's Targeted Development and Business
The evolution of artificial intelligence (AI) is shifting towards profitability-focused applications rather than expansive explorations. Companies like NVIDIA are thriving by exceeding expectations. However, practical AI applications for consumer products are awaited to solidify AI's transformative potential.
Business Expansion in the Middle East and India
Businesses are increasingly looking towards the Middle East and India for expansion and consolidation. The Middle East's growth, fueled by oil revenues, attracts investments, while India stands out due to its youthful population, skilled workforce, and strategic business potential.
Closing Remarks on the Podcast Episode
The discussion encapsulates reflections on past themes, forecasting future trends, and evaluating the trajectories of global developments discussed in the podcast. Insights on populism, energy transitions, technological advancements, and business landscapes underscore the dynamic shifts in diverse sectors and regions.
In this episode, Ralph and I revisit the themes we talked about at the beginning of this year (populism, near-shoring/deglobalisation, renewables/nuclear, AI profitability and corporate migration to the Middle East/India) and review developments until now.
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