Over a year has passed since the Ebola outbreak in West Africa began. In that narrow window of time, the disease has claimed more than 10,000 lives, stalled economic growth, and hampered -- if not reversed -- gains the region had made in strengthening public health infrastructure and service delivery.
Behind the numbers lies an unusually complex set of forces shaping the world economy. Some, such as the decline in the price of oil and the evolution of exchange rates, are highly visible. Some, from crisis legacies to lower potential growth, play more of behind-the-scenes role but are important nevertheless. Let me briefly review them.
In 2013, McKinsey & Company predicted that by 2025 almost 230 Fortune Global 500 companies would be based in cities in the emerging markets. Whilst I can't yet comment on whether this prediction is likely to come true, it is interesting to look at how companies are shifting their focus to these developing countries.
SAN FRANCISCO -- To overcome the drag on growth of an aging world, we need to be smarter and more effective in everything that we do. We don't need to reinvent the wheel -- just by adopting best practices that already exist will get us most of the way to where we need to be. Fully embracing new technologies will do the rest.
Decades ago, private capital flowing into developing countries was a small fraction of aid dollars. Since then, that private capital investment has grown roughly 100-fold and the ratio of aid to investment has flipped. Today, every $1 in aid to developing nations is dwarfed by nearly $7 in private investment.