By Archana Amarnath, Program Manager, Visionary Innovation Research Group, Frost & Sullivan and Sarwant Singh, Partner
The world naturally readies itself for an economic, technological, demographical change every decade. What sets this decade apart from previous decade will be the one sweeping wave of next generation leaders that are assuming power globally - and particularly within the next few years. These "Gen-Next" leaders with their international degrees, western thinking, global outlook and penchant for new technologies are pushing their "suddenly senior" predecessors into retirement. This dynamic shift will be one change that will be quoted as the "Mega Trend of 2011-2015" for years to come.
Take the example of China. Here is a country that has been traditionally wrapped within the tight reigns of communist driven leaders, leaders who have been successful in driving a double-digit growth economy (last 5 years). But today, China is making a bold step in a political arena. It has finally breaking itself free from its old leaders and welcoming new leaders into its driving seat. So while the City Hall in Beijing begins its seven day congress meeting in November 8th 2012, the 1.36 billion population is awaiting a major development in its political history - the reign of new power, new reforms and most importantly (and hopefully), new thinking. And the person who is expected to lead China into this next frontier of political agenda is 59 year old, Xin Jingping.
Xi Jingping comes with a mission. With Xi Jingping coming to power, economic development will be more balanced with private investment (and less reliant on government funds) - a strategy that will be required to keep China's growth at sustainable levels. Additionally, the introduction of a political reform conducive to support 949 million middle class population (2020) and around 350 million (15-34 year old) population (2025) will be in order - while still keeping well within the ideologies of the Communist Party. This election, itself, has been more transparent than before - a huge change in China's political history.