The “Age of Disruption”: The Predicament of Sustainability

EMEs currently find themselves in a precarious situation, characterized by macroeconomic and financial imbalances on one hand, and the imminent threat of structural shocks on the other. In this context, three profoundly challenging forces are emerging, possessing immense disruptive potential at a time when the growth engines of EMEs are beginning to falter: Climate change, demographic stagnation, and endemic economic exclusion all have the capability to create severe macroeconomic and financial shocks, thereby threatening the significant achievements of the past few decades. Nevertheless, the forces of creative destruction are likely to pave the way for the emergence of a more dynamic global economic regime, unlocking new potential for EMEs.