“Foreseeability” has undoubtedly become a key concept in describing a stable economy. This concept significantly affects the decision making processes of top investors and influences the course of the entire economy; from the production sector to the field of consumption
After the election of Donald Trump as US president, based on his administration’s policies and promises, many analysts expressed concern that protectionist walls would go up in world commerce and that international trade would not continue as smoothly as before. This assertion partially drew on from slowing global trade and the belief that the size of the overall pie is shrinking. For example, global trade volume fell to its lowest in 35 years in 2016; a significant indicator of a slowdown in overall growth. However, in spite of all these negative developments, 2017 turned out to be a year when the global economy performed at its best since 2011. In addition to the developments in the US, previous steps taken in Europe to support the economy have also started bearing fruit.
Foreign CEOs worry about cybersecurity
Things seem to be getting back on track in developing economies such as Brazil, China and India. But in such an environment, what is on the minds of the chiefs of the world’s leading corporations? According to PwC’s 2018 Global State of Information Security Survey (GSISS), based on responses from more than 1293 corporate chiefs from 85 countries titled “The Anxious Optimist in the Corner Office”, 40 percent of CEOs have expressed “extreme concern” about geopolitical uncertainty, 40 percent about cyber threats, 41 percent about terrorism and 38 percent about availability of key skills. According to the survey, Turkish CEOs are most concerned about geopolitical uncertainty (64 percent), exchange rate volatility (67 percent) and terrorism (67 percent).
Optimism about growth
According to PwC’s survey, optimism regarding global growth this year saw the highest-ever jump since PwC began to ask the question in 2012. The majority of CEOs surveyed believe global economic growth will ‘improve’. The percentage of CEOs predicting ‘improved’ growth doubled from 29 percent last year to 57 percent this year. In Turkey, the same figure rose by about four times, reaching 51 percent from 12 percent in the previous year. 42 percent of CEOs have expressed they are “very confident” in their company’s growth potential over the next 12 months. In Turkey, 32 percent of CEOs have said they are “cautiously confident” for their company’s growth potential. The US, according to CEOs, pulls further away from China as the top market for growth prospects. Corporate chiefs also plan for job growth, but they have concerns regarding availability of digital skills. Two-thirds of CEOs feel responsibility for reskilling their employees who might suffer from job loss because of technological developments. In spite of their optimism for economic growth, CEOs are more concerned about social progress than before. Most CEOs also agree that prosperity should be measured through multifaceted metrics and not just on financial data such as GDP levels.
