At BoF VOICES, Axios journalist Felix Salmon, economist Dr Dambisa Moyo and Sinovation Ventures chief executive Kai-Fu Lee discussed how fashion can navigate challenging economic times.
The current global outlook of mounting debt levels, contracting global trade and rising nationalism bear more than a passing resemblance to conditions in 1929, at the onset of the Great Depression. But that alarming trajectory is not set in stone, panelists at BoF VOICES, BoF’s annual gathering for big thinkers, said. Dr Dambisa Moyo, an economist and author who drew the comparison, said she was “optimistic in many respects,” and sees technological innovation as one way out of the global economy’s current troubles. That’s not to downplay the challenges. Journalist Felix Salmon described an economic “balkanisation” that was making it more difficult for cross-border business, while noting that China’s rapid rebound from Covid-19 could power global markets.