With tariffs, military conflict and geopolitics at play, it’s already been an extraordinary year for the global economy. Business Advantage PNG speaks with eminent economist Chris Richardson, keynote speaker at this year’s Papua New Guinea Investment Conference in August, for his views on what it all means for business.

Chris Richardson

BAPNG: As an economist who has built a strong public profile over many years, how do you see your role?

Chris Richardson: The world is getting both more volatile and more complicated.  My hope is that I can help people walk away with a better understanding of what’s happening – and why.

BAPNG: You’ve spoken with a lot of business leaders over the years. What question/s do they most frequently ask you?

CR: They know their own businesses inside out – what they’re less well versed in is some of the ‘what ifs’ for the world.

BAPNG: The first half of 2025 seems to have thrown up more than its fair share of global economic surprises. What should business people be watching closely at the moment?

CR: World politics. The economics of the moment are tricky, but the politics are downright challenging.

BAPNG: What are some of longer-term economic trends you consider the most significant in our region since COVID?

CR: Again, shifting world alliances are what to watch for: we may be headed back into a phase where the world is divided into spheres of influence.

BAPNG: What positive development do you think might surprise us in the coming year?

CR: The world economy could be more resilient than expected. In part, that is because the US Congress may well pass a budget that adds to spending while notably cutting taxes – that’d give global growth a temporary sugar hit.

Economist Chris Richardson will be speaking at the 2025 PNG Investment Conference, held on Monday 11 & Tuesday 12 August at the Brisbane Convention and Exhibition Centre. You can register to attend the event and find out more information about it, here.