Risk and audacity
Our societies and economies have had to reinvent themselves to cope with the difficulties and disruptions created or exacerbated by the Covid-19 pandemic. The economic crisis resulting from the health crisis has profoundly disrupted our systems: markets have collapsed, trade has fallen, businesses have closed… Then came the recovery, the first rebounds and the return of growth, which was timid at first and then significant in places. The world economy is expected to rebound by 5.6% in 2021 and 4% in 2022, according to OECD estimates. However, as the world economy recovers, the fear of a new shock remains. These risks, new or old, should not be a brake on investment and recovery. This situation comes on top of pre-existing uncertainty about the future of our societies and the investments we need to make today to prepare for it. In the short term, how can we project ourselves into the future so as not to fall behind and emerge from the economic slump? What might be the long-term ambition of investors in a world of cyclically recurring crises (2008, 2020…)? To what extent can we take risks in a world in transition? What ambition can we have in a world that is being recomposed?
Fonds de Réserve pour les Retraites