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The new wave of innovation is cause for business optimism about 2021

Kevin Sneader, Global Managing Partner at McKinsey & Company, provides perspective on what corporate business leaders are thinking during the global coronavirus crisis:

Should businesses be pessimistic or optimistic about 2021?

It's easy to be gloomy about the year ahead when faced with the realities of a cold, bleak winter in much of the world. Add to that lockdowns across Europe, surging case numbers and hospitalizations, and dreadful events in the Capitol in the US to name a few reasons for pessimism. But I think there is a case for optimism when it comes to this year. After all, it's true to say that it's always darkest before the dawn, and my conversations with business leaders suggest there are reasons to be positive by 2021.


Consider the following, yes, the vaccines are on their way, but so too is the impact of a wave of innovation. Twice the number of new business applications in the US and significant increases in new business starts in Germany, France, the UK and Japan. It's not just the digital economy that is reshaping lives, but science more generally with the impending bio revolution. And new ways of working are being accepted. Manufacturing is reviving and many sectors are seeing signs of confidence returning.

The great Anglo-Irish explorer Ernest Shackleton when faced with a life-or-death challenge of survival in the Antarctic commented, "optimism is true moral courage." It's time for some of that courage as we tackle 2021 with optimism.

Wales, early 19th century: During breaks from his law studies, William Robert Grove indulges in his passion for science to become an inventor. On his honeymoon in Europe, he learns about the new energy source everyone's talking about: electricity. After learning that electricity allows water to be broken down into its two components, hydrogen and oxygen, his intuition leads him to an idea that ends up making him a pioneer of sustainable energy production.

Watch the story of William Robert Grove in Eni's MINDS series, where we travel through time seeking scientists.

El Salvador's President Nayib Bukele is an unusual politician. The 39-year old political outsider boasts of his political triumphs on TikTok, dons a suave casual uniform (backwards-facing cap; leather jacket; tieless ), and refuses to abide by Supreme Court rulings.

Bukele also enjoys one of the world's highest approval ratings, and that's what helped his New Ideas party clinch a decisive victory in legislative elections on February 28, securing a close to two-third's supermajority (75 percent of the vote had been counted at the time of this writing).

His triumph will resonate far beyond the borders of El Salvador, Central America's smallest country, home to 6.5 million people. Now that Bukele has consolidated power in a big way, here are a few key developments to keep an eye on.

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Ian Bremmer's Quick Take:

I thought I would talk today, I haven't spoken much about former President Trump since he's no longer president and I intend to continue that practice. But given this weekend and the big speech at CPAC and the fact that in the straw poll, Trump won and won by a long margin. I mean, DeSantis came in number two, but he's the Governor of Florida, CPAC was in Orlando, so that's a home court bias. In reality, it's Trump's party. And I think given all of that, it's worth spending a little bit of time reflecting on what that means, how I think about these things.

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Ian Bremmer's Quick Take:

Hi, everybody. Ian Bremmer here, and as we head into the weekend, a Quick Take on, well, the first bombing campaign of the new Biden administration. You kind of knew it was going to happen. Against some Iranian-backed militias in Syria, looks like a couple of dozen, perhaps more killed, and some militia-connected military facilities destroyed. I think there are a few ways to look at this, maybe three different lenses.

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Iran rules out nuclear talks… for now: Iran has reportedly rejected an offer to join direct talks with the US and EU over its nuclear program, saying it won't start the conversation until sanctions on Iran's economy are eased. To be clear, this does NOT mean that prospects for reviving the Iran nuclear deal are dead. Europeans and the Biden administration want a return to the 2015 nuclear agreement, and Iran certainly needs the economic boost that would come from a removal of sanctions. But Tehran is going to try to maximize its leverage before any talks begin, especially since this is a sensitive election year in in the country. Iran's leaders are going to play hard to get for a while longer before edging their way back to the bargaining table. Still, it's high stakes diplomacy here between parties that have almost no mutual trust — and one misstep could throw things off track quickly.

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Biden strikes Syria. Now what?

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