A Strategic Allocator’s Guide to Productivity and Profits

How a new regime with shifting trends and sometimes unexpected motives could influence productivity and fundamentally reshape the investment-decision process.

A feature article from our U.S. partners.
Originally published in August 2023.


  • Opportunities: Greater investment spending in many developed and some emerging markets, global exposures to benefit from lower correlations and greater active opportunities and thematic portfolios
  • Trends and Drivers: Productivity slowed everywhere and still faces some structural headwinds
  • Understanding the Divergence between Productivity and Profits
  • Extrinsic X-Factors: Evolving considerations are increasingly affecting the behavior of corporations and policymakers
  • Geopolitics: Peak globalization and the less stable, multipolar world order may pressure profit margins, influence corporate incentives, and animate new beneficiaries