Netflix. Grab. Lazada. Work-from-home (WFH). Video conference. These names and phrases have become second nature to us, more so over the past year. They are also part of a new wave of digitalisation that is changing the global economy.

The digital economy is the new economy, sustaining global productivity growth, development and prosperity. According to the World Economic Forum, an estimated 70% of new value created in the economy over the next decade will be based on digitally enabled platforms. The world is changing before our eyes, and with that change comes growth and investment opportunities.

This development didn’t just materialise recently as a new idea, but rather, it was the next logical stage in the evolution of the economy. The evolution from conventional to digital is rapidly changing the way we do things - how businesses are structured, how consumers obtain services, information and goods and how governments need to adapt to new regulatory challenges. It also changes how we invest.

What’s a digital economy, exactly? The term was coined by a Japanese professor and research economist (with amazing foresight) during Japan’s recession in the 1990s.

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