The methods we consume power and produce commodities are altering. This transformation may benefit the worldwide economy, but resource producers will have to adapt to remain competitive.
Policy makers could seize the productiveness benefits of this resource revolution by embracing technological change and allowing a nation’s vitality combine to shift freely, at the same time as they deal with the disruptive results of the transition on employment and demand. Resource exporters whose finances depend on useful resource endowments will need to discover various sources of revenue. Importers might top off strategic reserves of commodities while prices are low, to safeguard against provide or price disruptions, and invest in infrastructure and training. Create a profile to get full access to our articles and stories, together with those by McKinsey Quarterly and the McKinsey Global Institute, and to subscribe to our newsletters and e mail alerts.
While the changes going through useful …