Growth Map Rewritten

Well, I think right now, um, the growth is very concentrated, as you pointed out, uh, either towards the developed economies or where the hyperscalers are at.

Uh, from my perspective, I think, uh, the future growth will be more, uh, from a vertical scale, uh, when we are looking at what is gonna be the most innovative unit of the economy or the most productive unit of economy.

And today, I found the combination between, uh, super individual and AI to be the best combo for that.

And, and that's why I, I found it to be very, very interesting is that, uh, when you're looking at the growth map of where to deploy your capital, uh, this is something that is less of an issue for us.

But rather to find the talent where it is and to help them with the necessary resources, uh, that could be, um, you know, helpful to them at the, at the fir- at the beginning stage will be super, uh, important, uh, at this stage.

And Burak, what do you think of that? Where do you see the growth shifting, and what defines competitive now as well?

Uh, when we talk about like, you know, growth and et cetera, I have a tendency to go back to the, like, you know, undergraduate time and, like, you know, growth.

Actually, the total output is a kind of function of capital, labor, you know, plus total factor productivity.

And like, you know, nowadays, uh, capital is under the pressure of geopolitics and, uh, conservative trade policies.

And the labor, let's say it, you know, talent, it is under pressure of, like, technological shifts, uh, the revolutionary, uh, changes and, uh, as you mentioned, uh, demographics.

And globally, uh, like, you know, uh, inflation is a kind of major challenge for the countries, for the individuals, and plus global, uh, debt.

So indebtedness is also a kind of, you know, a major challenge.

So, uh, to answer, like, you know, where will be the ni- next growth, I think the countries, uh, you know, which are able to address those challenges have a, a chance to, uh, grow, uh, in the following years.

Of course, uh, it's not just, you know, a solo effort.

Uh, as we all know, uh, the regional collaboration is also a part of, you know, uh, this, uh, uh, growth, uh, narrative in my opinion.

Mm.

And okay, you've heard Apana.

I'll go to you next.

Um, the next...

in terms of the next growth drivers, uh, Johnny talked about the hyperscalers, uh, the super individuals.

It's maybe no longer about numbers these days, right? And according to the World Economic reform report that I was referencing, uh, they found that lower income countries are among the fastest growing, uh, nations, but they account for roughly 1% of global growth only.

So that reflects a small, uh, economic base, right? So, uh, and you mentioned the challenges right now, uh, and those who can get ahead will be those that can address those.

But if you can elaborate a bit more on the challenges, you know, that countries are facing so that they can really translate that growth potential into actual investment, uh, opportunities.

Yeah.

So look, I think from an emerging market perspective, the Global South, I think is having a moment right now.