We are heading for a supercycle: Goldman Sachs analyst

According to Peter Oppenheimer, chief research officer of Goldman Sachs’ European region, the world is on the verge of a new supercycle. Oppenheimer, who was a guest on the European broadcast of CNBC’s famous program Squawk Box, said, “We are clearly heading towards the time of this supercycle.”

“It will be different from the last cycle”

Oppenheimer said that rising interest rates and inflation and globalization triggered the super cycle of the early 1980s, and that the cycle he expected would be different:

“We can’t say that interest rates are going to come down aggressively in the next 10 years. Globalization is also not at its former pace. And of course, geopolitical tensions have become much greater and more effective. All of these factors may seem like they will reduce financial returns, but there will be other factors that will increase them. Elements such as artificial intelligence and reducing carbon emissions are among them.”

“Artificial intelligence is still in its early stages…”

Stating that artificial intelligence, the growing sector of the last period, is still in its early stages, the Goldman Sachs executive used the following statements:

“Artificial intelligence and production are among the most important issues… There will be new business areas that artificial intelligence will create. But this area is still in its early stages. Production will also increase with artificial intelligence applications. Therefore, it will be an important factor for growth. We will quickly see the positive effects of technological innovation and the restructuring of economies to move towards decarbonization. In fact, it’s very similar to what we saw in the late 19th year.”

Published: January 9, 2024 12:54 pm