Difference between revisions of "Scenario 1 - Innovation for the Greater Good"
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==2010 - 2015== | ==2010 - 2015== | ||
[[File:manage.jpg|150px|right]] | [[File:manage.jpg|150px|right]] | ||
In the beginning of 2011, the emotion across the world markets was gloomy. The second dip had hit the market and the fear was that Japanese episode of deflation and continued recession will recreate itself in the developed world. Governments in USA and EU were struggling to get the economy back on track. | In the beginning of 2011, the emotion across the world markets was gloomy. The second dip had hit the market and the fear was that Japanese episode of deflation and continued recession will recreate itself in the developed world. Governments in USA and EU were struggling to get the economy back on track. While the focus of the governments was on reviving the economy, on the other hand, the world was facing climate change disasters which were getting worst year on year. To curb emissions, US government deployed programs through the "Recovery Act" and Germany announced its plans of investing heavily in wind energy. This was the beginning of government intervention in kicking of green projects that triggered the wave of green innovation. Many whistleblowers were drawing attention towards the nearing peak oil situation. Amidst these crisis situations, China was the new sun rising on the horizon. The Chinese government was disposing its vast reserves of dollars in return of investments all around the globe and yuan was appreciating steadily. China was transforming itself from low cost manufacturer to global innovation test bed. The innovation in Chinese companies was focussed on re-engineering products to cut costs and finding novel ways to manage supply chain. Meanwhile, the governments in US and European countries were discussing and debating the new reforms and regulation that needed to be put in place for sustainable economic growth in future. After heated debates and protests by banking heavyweights, the governments in the developed world initiated re-regulation of the financial markets, demerging of huge banks into its specialized components of retail banking, merchant banking and securities. The taxation laws and accounting rules were altered to clamp down on tax havens and transfer mispricing. This was a reforming movement in the business models of financial institution. <br> | ||
==2015 - 2020== | ==2015 - 2020== | ||