First of all, a period of low trend growth is probably here to stay for some time, together with rigidities that may become more entrenched. It is a problematic combination of factors that could reinforce each other. Secondly, in such a state, economies would be more vulnerable to occasional downward shocks. That could exacerbate inefficiencies.
Finally, polarization may become more pronounced, again aggravating general efficiencies. This certainly is a challenging situation, but there are opportunities ahead as well. Let me explain by moving on to the final part. 3. What lies ahead of us?