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I nternational leaders face an era of unprecedented change. The recession and  financial crisis that ended in 2009 caused a seismic shift that has reshaped  the global business landscape. The world economy is now characterized  by sluggish growth in the West, a shift in power to the East, and value-driven  customers and rising risks everywhere. At the same time, the downturn has  hastened the adoption of key technologies-mobility, cloud computing, business  intelligence and social media-that are transforming businesses and sparking a  new wave of wealth creation, particularly in the emerging world. Economic growth and technology are inextricably linked. Current economic  conditions are fostering investment in technology as emerging markets ramp up  their demand for technology to fuel growth, and advanced markets seek new  ways to cut costs and drive innovation. This becomes a virtuous circle as digital  technologies drive consumer income and demand, education and training, and  efficient use of capital and resources-leading to increased economic growth,  particularly in emerging markets. 

T oday's global economy is forcing executives, governments and consumers  to adopt a new way of thinking. The financial crisis and deep recession that  ended in 2010 caused a seismic shift that has reshaped the global business  landscape. No longer can companies rely on credit-fuelled domestic markets  for growth. Indeed, the need for households, banks and governments to regain  their balance will dampen growth opportunities in many advanced economies.  Instead, we are seeing the emergence of what has been called a "new normal  economy" characterised by several key factors discussed below.