Discoveries that can change the future of the world economy

Jeff Desjardins, editor of a new book titled 'Visualizing Change: A Data-Driven Snapshot of Our World' - seeks to analyze the long-term impact of changing world conditions.

Discoveries that can change the future of the world economy

According to him, Nicholas Copernicus's illustration of the solar system in the fifteenth century has had a catastrophic impact on the life of people on earth. The world is the center of the universe - such traditional ideas came into question after Copernicus's theory was propagated in the fifteenth century.

While technological development is considered to be the key to change, it is possible to change the mindset of human beings and activities, business ideas, geopolitics and change of attitude of the consumers.

Mr. Desjardins said, "change can be came from Anywhere. The perception of tomorrow has begun somewhere today."

According to Desjardins and his research team, a few factors may be indicative of the future economic path of the world.

1. The rise of technology companies

For decades, the world's leading companies have operated businesses by producing products in a wide range of commercial products or through mineral extraction and processing.

Ford, General Electronics and Exxon are examples of such organizations.

Then the various financial services companies came, telecommunications service companies, and retailers.

Information is currently considered the most valuable. And for the last five years, the most valuable companies in the stock market as a global business were tech-based companies.

2. Chinese advancement

China's economic growth is not new anymore.

But Mr. Desjardins considers the importance of accelerating their technological development in line with China's economic growth.

The economic production of some cities in China surpasses many countries in the world.

Currently, there are more than 100 cities in China, with more than 100,000 people.

It is estimated that China will overtake the United States in 20 of the world's largest economies

3. The advent of megacity

China is not the only country whose cities are constantly evolving.

In the next few decades, the global economy will be greatly transformed due to the increasing number of people in the cities of the world.

According to the UN's perception, birth rates will remain stable in China and many Western countries; On the other hand, population explosion in many countries in Africa and Asia will increase urbanization.

4. Global debt

According to estimates by Visual Capitalist, a media company founded by Jeff Desjardins, the total global debt is currently $ 25 trillion, which is in the hands of 5 trillion governments.

Compared with the gross domestic product, Japan's debt is 25% and the US 5%.

Japan and the United States are jointly responsible for 5% of the world's total debt if the total debt is calculated.

5. Technological change

In the past century, there have been some technological inventions, such as power supply, telephone, automobile or aircraft, for use in the household.

In some cases, it has taken years to make such products available to everyone.

For example, in the United States, 5 percent of people have had 3 years to make an automobile or motor vehicle accessible.

However, the Internet took 20 years to achieve the same amount of availability. On the other hand, where tablet ownership was available to 5% of the people in 20, it increased from 5% to 5%.

Desjardins believes that the interval of time between single technological inventions will be reduced to a few months before it becomes available to humans.

6. Barriers to trade

After the Second World War, the governments of different countries adopted trade policies from one country to another with a progressive attitude.

But in the present world, a slightly different trend is being noticed.