New Delhi: Take a step back and look at the world in 2025, and the picture that emerges is a complex collage of several emerging concerns. Apart from climate crisis — which has played out rather dramatically in Los Angeles by way of the forest fires — there are other issues taking shape around the world. The three that stand out from my perspective are: global economic slowdown, joblessness and inequality, and rising xenophobia.

More than two years after the world emerged from the devastating impact of the Covid-19 pandemic, the world economy is healing, but barely. Some megatrends are emerging that will continue to define the world for the rest of this decade and beyond. One of the most important elements in this mix is Trump Presidency 2.0, which is going to require almost every major country to reframe its engagement with the United States of America.

China, an economic miracle of the last four decades, is going to be dragged down by challenges both internal and external. The unbridled investment in infrastructure and housing has created a banking crisis that will take years to sort........

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