The West has dominated globalisation to date, but that balance of power is shifting and it’s happening much faster than Western leaders are willing to accept, as new countries demand a seat at the table. The global pecking order is rebalancing to get a broader view on the risks and opportunities in this new global economy. We traveled to Southeast Asia to meet former World Bank economist, Dr Kirida Bhaopichitr. We began by talking about the unstoppable rise of the East, the problem with protectionism in the West, and the inevitability of a multipolar world.
We are witnessing the largest real-time, Pavlovian experiment in global capital markets that’s ever been conducted. The conditioning of the last 10 years in the asset management business has rewarded more and more passive strategies, with fewer and fewer people tasked with understanding the big picture. So what happens now in a new era of quantitative tightening?