What are the key long-term economic trends to watch?
Some key long-term economic trends include globalization, technological advancement, demographic shifts, and climate change.
How does globalization affect local economies?
Globalization can lead to increased competition, access to larger markets, and can drive innovation, but it may also harm local businesses.
What role does technology play in shaping economic trends?
Technology drives productivity, creates new industries, and can disrupt existing markets, significantly influencing economic growth.
Can you explain the impact of demographic shifts?
Demographic shifts, like aging populations, can affect labor markets, healthcare demand, and economic productivity.
What are the implications of climate change on the economy?
Climate change can lead to resource scarcity, increased costs for businesses, and necessitate shifts in energy production and consumption.
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