picture courtesy of JD Hancock, flickr.com licensed under CC2, creativecommons.org.licenses/by/2.0
As much as we like to share the awe and wonder the global economy has in store for economists, we have to spell out one harsh truth. 2017 will neither be MARVEL-lous, nor comic, nor super. That is what our latest report and infographic, titled “Superheroes, Sidekicks and Villains”, has to say about “the Guardians of the Economy”.
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The economy, we suggest, may have some things common with those superheroes in Marvel’s comic books you used to read as a child.
So it is not too late if you haven’t yet indulged in such fun reads. Sit back, download the movie (legally), dress up if you wish as Superman, Batman or the Hulk – we will no judging you - and enjoy. The Guardians of the Economy are here, also as an infographic which you're welcome to peruse below.
Why is it important for you to rediscover your inner child? Why should you frolic along with your inner clown?
Because around the G20 negotiation table, the UN Assembly General, the Eurogroup, and any other global forum, there are superheroes, sidekicks and villains are going through the motions. Surprise! Fiction may, once again, be not that far from reality.
Yes, they may have lost some speed and aura. But what they lack in stamina, they will be making up in malice. The real fun part is that they all want to use their superpower, at the same time and without much coordination or afterthought. The results can be HUGE.
Keep an eye for Captain America, the European Spiderman, the Chinese Ironman and the Fantastic Four of the emerging world. 2017 promises to be quite a show. Sidekicks will attempt to gravitate around superheroes, flexing their muscles and vivifying the masses. Villains will be looking for mistakes and causing mischief.
From monetary shields to policy web shooters, from super resilience to shocks to the hyper flexibility of companies, super countries around the world - and their sometimes less super policy-makers - will have to make full use of their superpowers to face another year of surprises.
One must “Govern [them]selves with love, kindness, and service to others”, as Wonder Woman quipped. She was right.
“Heroes are made by the paths they choose, not by the powers they are graced with” Iron Man summarized.
But when it comes to the super quote that explains why policy choices will matter more than anything else Batman rules. “It's not who I am underneath...but what I do that defines me.” Wise words.
After years of mutant economics, global growth will face three of the most powerful X-Men. The price Wolverine, the trade and finance (de)Magneto, and even more policy Storm(s). Reflation, de-globalization, and political risk are once again running the show this year.
Yet, the global stage could be quite secondary this year. In the end, the only kryptonite these superheroes know is polls.
Ludovic Subran
Chief Economist
Euler Hermes
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