The 2021 global economic outlook is more uncertain than at almost any other point in memory. The international system has been strained by four years of the Trump Administration, but nothing has disrupted business operations like COVID-19, which triggered the worst global recession since World War II and led to the third oil price collapse in just a decade. Businesses will need to continue to track local COVID-19 case growth and monitor progress toward the development and distribution of a vaccine. Yet, further downside risks—and positive surprises—are both possible in 2021. Many short-term risks for emerging markets should be in focus, as the ongoing strains from COVID-19 on domestic economics has the potential to trigger currency crises, political unrest, and significant tax and regulatory policy changes.
Global disruptors will remain major threats to global recovery. With ongoing COVID-19 disruptions and a transition to a new US presidential administration, there is significant uncertainty for the global economy in 2021.
Tailor risk mitigation based on events’ likely impacts on demand and operations. Multinationals need to focus attention on disruptive events that will have a severe impact on market potential and the operational landscape of their businesses.
Contingency-planning capabilities are critical to global performance. Companies that are positioned to outperform should build contingency plans for high-impact events, enabling them to adapt during periods of volatility and take advantage of new opportunities.
Our Events to Watch for 2021 webinar presentation highlights the main global and regional events that our team anticipates could take place in 2021 and would have a substantial impact on the business environment and compel mid-year changes to business plans. Business professionals can use this presentation to identify the key events that would impact their business in each region, leverage our scenario analysis to identify the key drivers and signposts to monitor, and prepare contingency plans to address the expected impacts.
Please join our CEO, Richard Leggett, in a fireside chat with the author of the Events to Watch for 2021, Ryan Connelly, in a broad discussion of the key risks, opportunities, and uncertain trends that executives need to keep in mind as they pressure test their strategic plans for 2021 and beyond. For an analysis of our 2021 Events to Watch specifically tailored to Asia Pacific business professionals, watch our full Asia Pacific Events to Watch webinar presentation.
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