Four powerful trends involving game-changing innovations and demographic changes are set to play out in the global economy over the coming decades. We believe they can provide an attractive way to plug investment portfolios into the future.

Trade and internal tensions are likely to play key roles in 2025, as potential tariffs and political disruptions cloud the picture.

Higher productivity has propelled the U.S. economy ahead of its major peers in recent years, offering a blueprint for other countries and raising the stakes in the global race to harness emergent technologies such as GenAI.