The new high - the role of technology development

StrategyNew business building

2 December 2020 — In this IRAMOT 2020 keynote speech Reddal client director Dr. Per Stenius discusses the effects of the COVID-19 pandemic globally on innovation, economy and the political landscape.

Reddal was invited as a keynote speaker to the 10th international conference on management of technology, organized by IRAMOT and held online on December 2-3, 2020. The main theme of the conference was "Innovation management in the face of crisis". Our presentation "The new high - the role of technology development and global alliances in the coming decades" includes a framework for understanding the overall dynamics of the pandemic and the complex interconnections and feedback loops it creates. This is followed by a discussion on how different countries and regions have performed across the COVID-19 period. We take a global perspective and discuss how the pandemic is affecting the global world order and alliances, as well as how various nations perform across the pandemic. The presentation includes sections on the Western and Asian democracies, China, Southeast Asia and Iran.

We find that the COVID-19 pandemic is not merely a medical/health matter, it has big effects on the economy and political landscape too. At the same time, it tests the ability of governments to lead and use corrective actions not only to counteract the situation but use this for renewal and future growth. In this regard, in particular Southeast Asia, but also China and South Korea, stand out. At the same time, the United States and Europe are facing secondary repercussions due to a less effective approach taken. This talk is connected to our earlier keynote "Defining Iran's path for growth" at IRAMOT 2016 in which we discussed to role of private equity on innovation. We conclude the presentation by discussing the concept of cyclicality of economy and history, in particular Kondratieff waves, Schumpeter’s creative destruction, and the “fourth turning” introduced by Strauss and Howe. This perspective gives a positive outlook for the coming decades and the next “High” that is expected around the middle of this decade. However, it also highlights the importance of continued innovation while also addressing social issues driven by inequality. This presentation was prepared by a global team of Reddal staff, located in the regions covered.

Tags
Innovation, COVID-19, Pandemic, National economic development, Technology development, Global economy, Global alliances, Cyclicality of economy, South-East Asia, Europe, Iran, South Korea, China, Cyclicality of history

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