The Global Lead News NOV | DEC 2016 - Page 44

#4.

Personal Power:

This past spring, the United Kingdom announced that wind power is now competitive (without subsidies) with conventional fossil fuels. Germany powered the entire country with renewable energy for a single day.

And India announced that solar energy is now more affordable than coal. The net impact of these developments is that millions and eventually billions of people will soon have access to clean, affordable energy. This energy will power local industries and allow foreign economies to flourish. In turn, millions of new economically empowered individuals will see their purchasing power increase manifesting in increased demand for foreign goods and services.

#5.

Digital Infrastructure:

Over the past decade and a half, the digitization of music and books has disrupted the publishing and recording industries, but it pales in comparison to what is coming.

Soon, higher education–in the form of Massive Open Online Courses (MOOCs)–will be digitized. Next, tax and financial records, as well as legal and real estate contracts will be digitized by Blockchain. And eventually, physical goods will be converted into digital bits only to be reconverted into actual products via 3D printers.

Each technology–MOOCs, Blockchain, and 3D printers–will facilitate global commerce in powerful ways.