Michele Geraci, former undersecretary of state at the Italian Ministry of Economic Development, spoke at the Boao Forum 2025, emphasizing China’s commitment to long-term cumulative growth. He noted that short-term predictions are irrelevant for a country like China, which plans decades ahead.
Geraci highlighted that Western countries and companies should recognize the shift in the global economic center towards Asia. “We are transitioning from a hegemonic unipolar world into a multipolar one,” he said.
A Multipolar World Emerges
This shift signifies the rise of multiple economic powers rather than dominance by a single nation. For teens and young adults in the Global South, this means more opportunities as economies like China continue to grow and influence global markets.
Geraci’s insights suggest that adapting to this new multipolar reality is crucial for countries and businesses worldwide. Embracing long-term strategies over short-term gains could be the key to success in the evolving global landscape.
