(BangkokPost) Suwatchai Songwanich, Executive VP of Bangkok Bank has written this “looking forward” article about what to expect as the world moves beyond the current state with the rollout of the Covid-19 vaccine on to the “next normal”. He writes, “We may not be sure what the world will look like, but we do know there are a few big ideas in play that could shape the near future.”
The coronavirus crisis has accelerated digital transformation around the world. China this year announced plans to speed up its development in quantum computing initiatives, the arrival of which will literally take all things digital to a new level. Beijing’s digital strategy is a key component of its plans to double the size of China’s economy by 2035.
China, which already boasts some 4,200 businesses working on quantum computing, is keen to lead the world in this respect, presenting significant challenges to Silicon Valley. The mastering of this technology will dramatically alter how we use digital tools and generate and analyse data, creating further disruption and opportunity.
Whatever happens, we should expect to see the return of some of the challenges we were facing prior to the Covid outbreak, among them trade disputes, digital disruption and supply chain relocation. However, each of these has also been transformed by the pandemic, as have the responses to them.
Asia-based Songwanich believes “Regional cooperation will be the key to success.” And explains the signing of the Regional Comprehensive Economic Partnership, the world’s largest trade agreement, by Asean’s 10 members plus Australia, China, Japan, New Zealand and South Korea presents cause for optimism in that geographic arena.