industry

Europe Needs a Radical Change

The world, previously highly globalised, is switching to a more bilateral cooperation model.

Interview conducted in London by Karolina Wójcicka

We live in increasingly unstable times, dominated by wars and revolutions. On top of this, Donald Trump will soon become the President of the United States. What does this mean for business?

We are on the brink of a new era. The scale of the changes we are currently witnessing is more akin to a 30-year frame, rather than a typical economic cycle like the 1987 stock market crash or the Covid-19 pandemic. These were events that lasted a few years, left some echoes but eventually faded. A 30-year frame, on the other hand, is something far more significant. After World War II, we experienced a post-war boom that lasted from 1945 until the early 1970s. Then came the 1970s and 1980s, a period marked by tensions. We saw the oil crisis, heightened geopolitical rivalry and the emergence of new players on the international stage who began to influence the global order. The last 35 years, meanwhile, have represented an era of global markets and a narrative centered around cooperation. We transitioned to digital technologies, expanded suburban living, and had abundant energy resources. This led to growing concerns about the climate, while money was cheap.