Fourth, we need to identify, nurture and promote new areas of growth in both manufacturing and services, the two complementary engines of our economy. The continuing emergence of lower-cost locations spurs us to constantly review and refresh our manufacturing value proposition, be it in refining our division of labour, exploiting economies of scale through shared facilities, or undertaking more innovation and R&D work.
Of course, when instant payments become a reality, this does not mean that other noninstant payments will die out. We have seen that, besides e-mails, online news services and Instagram, there are still letters sent via postal services, people reading newspapers, and photos put into albums. However, instant payments will be the “new normal”.