The New York Times has called Peter Shankman “a rockstar who knows everything about social media and then some”. He is a 5x best-selling author, entrepreneur, and corporate keynote speaker, focusing on customer service and the new and emerging customer and neurotypical economy.  With three startup launches and exits under his belt, Peter is recognized worldwide for radically new ways of thinking about the customer experience, social media, PR, marketing, advertising, ADHD (Attention Deficit Hyperactivity Disorder), and the new Neurodiverse Economy.

In addition to his passion for helping people and companies find success, some of Peter’s highlights also include Founder of HARO – Help A Reporter Out. Which became the standard for thousands of journalists looking for sources prior to being acquired three years after its launch The ShankMinds Breakthrough Network, an elite, online mastermind of thought leaders, business experts, and change-makers Faster than Normal – The Internet’s #1 podcast on ADHD, focusing on the superpowers and gifts of having a “faster than normal brain,” which has helped thousands of people all around the world realize that having a neuroatypical brain is actually a gift, not a curse

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I’ve been using HARO for a number of years. In fact, it was one of the first free services I used in order to get Penji press, backlinks, mentions, etc. In my opinion, it is a business staple and I was incredibly grateful to speak and thank the person who started it all. 

Peter is as real as it gets. From the stories, he shared about his family/personal life to the in-depth story about how important hiring is. Finding the right person or people is critical to one’s success and I hope you particularly perk your ears up when Peter talks about what he does when he hires a new employee. 

What is the future holding for our economy?

The world is evolving at a fast pace. With billions of people hyper-connected to each other in an unparalleled global network, fresh ideas and technologies can spread practically instantly and without friction.

When you combine this interconnectedness with fast-changing demographics, evolving values and views, increased political uncertainty, and exponential technological advancements, it’s evident that the next decade is going to be a watershed moment.

After weeks of lockdowns, tragic losses, and the collapse of most of the global economy, the only way to define this historic moment is radical uncertainty. Will companies reopen and employment is restored? Will we go on another trip? How about the influx of cash from central banks and governments be sufficient to avoid a severe and prolonged recession, or worse?

But where do all of these large picture patterns meet? And how can we make sense of a world awash in nuance and complexity? Furthermore, how do we set our sails to take advantage of the opportunities that this sea of change has to offer?

Balance of Globalization and Self-Sufficiency

Economists used to laugh at proposals for countries to seek policies to ensure food or energy security. They maintained that in a globalized world without boundaries. We could always turn to other countries if something bad happened to our own. As governments scramble to acquire supplies and hold on to face masks and medical equipment, borders are becoming increasingly important. The coronavirus outbreak has served as a stark reminder that the nation-state remains the fundamental political and economic unit.

After this pandemic, the economic system we build will have to be less blinkered and more resilient. Also, be more aware of the fact that economic globalization has well outrun political globalization. As long as this is the case, governments will have to strive for a better balance between utilizing globalization and maintaining a sufficient level of self-reliance.

Money’s Evolution

Money is perhaps one of the most important inventions in human history. The shape and function of money have changed dramatically throughout history, from beaver pelts to gold bars.

Money’s definition is more ambiguous than ever in the current world. Since the global crisis, central banks have chosen to generate trillions of dollars of currency out of thin air. But you can use blockchain technology to create your own competitive cryptocurrency in only a few clicks. People are borrowing historic sums of money, regardless of what is or is not money.

Uncertain Outlook

According to a prognosis, advanced economies will accomplish broad immunization of their populations by the end of the year, thereby containing the epidemic. However, there is a lot of ambiguity about the future. A longer-lasting pandemic, a wave of corporate bankruptcies, financial stress, or even societal upheaval may all disrupt the rebuilding process. Simultaneously, higher COVID-19 eradication success and increased spillovers from advanced economic growth could result in more robust global growth.

Despite this, the pandemic is believed to have resulted in significant development setbacks. Although per capita income growth in emerging markets and developing economies is expected to be 4.9 percent this year, it is expected to be practically flat in low-income countries. In nearly two-thirds of emerging market and developing economies. Including three-quarters of unstable and conflict-affected low-income countries. Per capita income lost in 2020 will not entirely get better by 2022. Around 100 million people are about to return to extreme poverty by the end of the year.

Inflation 

Food insecurity in low-income nations may get worse by rising food prices and accelerated aggregate inflation. Rising inflation rates should not lead to a de-anchoring of inflation expectations. And policymakers should avoid employing subsidies or price restrictions to alleviate the pain of rising food costs. As these risks add to excessive debt and increase global agriculture prices.

Following the recession last year, a recovery in global commerce provides a chance for emerging market and developing economies to boost economic growth. Emerging market and developing nations have half the trade costs of established economies. And decreasing them might enhance trade and drive investment and growth.

Relief from the pandemic is tantalizingly close in many places but still, a long way off in others. Policy actions will be critical Ending the pandemic will require ensuring equal vaccination distribution. Many low-income countries will benefit from comprehensive debt reduction. Policymakers will need to use fiscal and monetary tools to help the economy recover while also maintaining financial stability. To support growth on a green, resilient, and inclusive path; policies should focus on reinvigorating human capital, expanding access to digital connections, and investing in green infrastructure.

The global economy is significant because countries all around the world seek assistance from one another. It’s better to participate than do nothing and regret it in the future.