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These Macroeconomic Trends Are About To Fall On Us

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@young-kedar
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The global economy is continually changing, and it’s important to keep up with the latest trends. Understanding how macroeconomic trends can impact you (and your business) is one of the best ways to ensure that you remain competitive in this constantly evolving market.

These are some of the most important macroeconomic trends that you should keep an eye on before they suddenly fall on you :

Globalization creates new opportunities for businesses and employment in many industries across the globe such as technology, retail trade and manufacturing—but these changes also mean losses at times when old jobs disappear due to automation or outsourcing (when foreign companies take over local operations). Meta's 11,000 jobs lay off is a trend that has being going on for awhile and is predicted to continue. I’m sure most of these jobs are going to be automated. Software is literally eating the world, would it one day eat humans too?

The internet is not just a tool for economic growth; it's also used by individuals who want access to news about their communities or organizations who want help organizing events like fundraisers or fund drives in remote places of the globe.

With globalization, the value of communities becomes a lot higher because it allows likeminded people (and not so like minded people) from all over the world to converge on a certain platform, connect and share ideas, work together in achieving common goals and creating an impact in the world. What better example to look at than the Hive community? Its users are beautifully scattered across the globe and are working on achieving a common goal.

An example includes:

  • Augmented Reality (AR) - You can add digital objects into real world environments using an app, which makes it much easier to see what something looks like in real life, as well as being able to interact with these digital objects in ways that aren't possible right now because most AR apps only allow you to see them on your phone or computer screen instead of actually interacting with them as if they were tangible objects around you at all times during every day life.

Virtual Reality (VR), Artificial Intelligence (AI) and Blockchain are also part of the technologies that will make up web 3.0. VR is about immersive worlds and what you can do in them; AI is about doing your work faster and more efficiently, outsourcing all boring and laborious tasks, Blockchain ensures that you securely own your assets and the ability to transfer them. All of these technologies are rearing their heads in the global economy and we can see how disruptive they can become. Web 3.0 is a key driving force in the macroeconomic trends.

What Is Insourcing? In 2008, when the global economy was in its worst shape presumably since World War II, many companies were trying to cut costs by moving manufacturing back home from countries such as China and Mexico. These moves were referred to as "insourcing," or bringing jobs back from abroad where labor is cheaper than in the home country.

This trend did go on for sometime but it eventually reversed and the outsourcing began again fueled by globalization. But there’s some difference with this current (or trendy) outsourcing and insourcing, its partial insourcing and outsourcing. Because it’s feasible to only outsource or insource a part of your business.

For examples, some (it’s becoming many) customers prefer products made by local companies who have strong ties within their communities; these same consumers also expect high-quality service when they buy something online or through an app like Amazon Prime. In this case, the production can’t simply be outsourced. However, you can outsource the labor (i.e. people working for you) via virtual assistants.

With that in mind, I hope this article has given you some ideas on how to profit from these trends while they’re falling or about to about to fall. For me, Web 3.0 is what I fixed my eyes on. What about you?

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