A New Growth Model Needed
The global economic landscape is shifting and changing. New economic growth models are needed for the economy to remain resilient and sustainable.
Finance Minister Sri Mulyani Indrawati (right), IMF managing director Christine Lagarde (second left) and Singaporean Deputy Prime Minister Tharman Shanmugaratnam (second right) speak on global economic development at an international conference in Jakarta on Tuesday (27/2). The conference, titled “Models in a Changing Global Landscape”, is part of the IMF-World Bank Annual Meetings 2018, with the main meeting scheduled to be held in Bali in October.
JAKARTA, KOMPAS — The global economic landscape is shifting and changing. Industry 4.0, or the rapidly growing fourth industrial revolution, has increased volatility in financial markets, seen the tightening of trade and has the potential to disrupt various sectors of the national economy.
To address these problems, new economic growth models are needed for the economy to remain resilient and sustainable. There are three keys to sustaining economic growth in the changing global landscape: managing uncertainty, making the economy more inclusive and reinforcing sectors that face potential disruption by the digital revolution.