Rebuilding Economies

Date: Oct 28 2020

Bill Sullivan, President

FOX hosts a panel on “Rebuilding Economies,” and invites Ivo Daadler, President of Chicago Council on Global Affairs and John Dionne, Senior Lecturer at Harvard Business School and Senior Advisor at The Blackstone Group, to walk us through their most current thinking and predictions.

Daadler attempts to share what the geopolitical future looks like and addresses three important “known- unknowns” – e.g. these are things we know are going to be big issues, but we just don’t know how they’re going to play out.

  1. The U.S. relationship with China
  2. What is going to happen in the developing world now and in the developing future post Covid?
  3. The U.S. role in the world.

John Dionne goes on to discuss “The Pandemic World, Before, Now and After.”

Where were we before Covid? In fact, the U.S. and the entire globe was in a process of decelerating growth going into Covid. It’s not often talked about, but that’s reality. We had a sick economy, but then Covid became the narrative.

What could the new world order look like for the US?

  • Low growth rates for a long time.
  • Record tax rates in many forms.
  • Very high structural unemployment.

When Dionne addresses the future, he asks, How do you pay for $30 Trillion in debt? He asserts the following mandates:

  • Massive tax increases will occur for a long time.
  • Reduced entitlement spending in a lot of different ways.

Dionne shares who he sees as the winners and the losers of this pandemic era, and also shares where he has and has not been investing.

Dionne believes this is all more than an event, but it is an inflection point. Society in and of itself will be transformed in many ways. Despite our litany of challenges and failures, the U.S. remains blessed in so many ways. Our demise could come from failing to find sources of agreement and collaboration.

Bill Sullivan is the president of Family Office Exchange (FOX). He is a thought leader who understands the role that disruption and innovation will play in transforming our industry. He leads FOX in helping members to understand and plan for future transitions in the family enterprise, the family business, and the family office.

Areas of Expertise: Enterprise Families, Disruption, and Innovation

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