The Managing Director and Chief Executive Officer, Economic Associates, Dr. Ayo Terriba, has revealed that only countries that embraced the fast paced changes in the global ecosystem that would be part of the leading indicators in the global crucible.
He stated this at the 60th anniversary lecture of the Nigeria Institute of Management (NIM) in Lagos. The theme of the lecture was “Celebrating 60 years of Management: Poised For More!”
Terriba noted in his paper, entitled “Embracing envolving Fast-Paced Wealth Creation In Global Ecosystem,” that declining output, export of manufacturing of industrial goods, cross-border mergers and acquisitions would form the new waves of global deal-making.
He identified stratégic importance of migration and growing waves of innovation as hallmark of fragmentation of global trade, noting that countries with diaspora and investor friendly policies were now attractiing large capital inflows to underpin domestic liquidity, stability, inclusive and diversified growth in addition to full employment, share prosperity and national cohesion.
A renowned economist, he observed that Foriegn Direct Investment (FDI) and remittances emblematizes financial globalization in the same way exports had emblematizes real globalisation.
He said: “To export technological innovation, human capital, and global liquidity to enhance the wealth of states, cities and townships, there is need for possession, place, product and people-based strategies.
“The world evolves from export-manufacturing centric, to service-knowledge centric ecosystem. So it is the preservation of wealth in the fast paced, pervasive, disruptive technological advancements and optimisation of wealth portfolios, among others, that can help countries embrace the fast paced changes in the global ecosystem,” he said.
In an opening address by NIM President and Chairman of Council, Mrs. Patience Ehizogie Anabor, she said, at the event attended virtually and physically that, “That the institute is celebrating diamond jubilee is not only a very big deal but also worth celebrating in more ways than one.”