Populations remain relatively young in most of Asia, Latin America, and the Middle East. Invest in outsource manufacturing in emerging markets and also in consumer electronics suppliers. Competitive pressures will force many companies to acquire or merge with competitors globally. Eventually, this may revive inflation. But, over the next several years, that's not likely.
Consolidation means more rounds of restructuring, and job insecurity.
Capital markets will continue to expand and become more integrated globally. In competitive markets, the only sure winners are consumers. If productivity continues to grow rapidly, then so will real income. The trend in purchasing power will set the pace for consumer spending. The key to global prosperity is Asia, especially China and Japan.