Despite this, the new year looks to be driven by an innovation supercycle that extends the frontiers of artificial intelligence (AI) into new sectors and applications.
The multipolar nature of international relations will “continue to steer economies in a context of strategic reshoring”, reads a 2025 outlook report by Julius Baer.
Governments, mindful of strategic vulnerabilities exposed by recent crises, have embraced proactive industrial and fiscal policies aimed at reshoring critical supply chains. These policies, visible through substantial spending programmes across the US, Europe and China, underscore a geopolitical pivot toward economic resilience.
