Bangladesh, Aug. 21 -- or decades, companies, investors, and policymakers operated on the comforting assumption that the global economy was underpinned by a relatively stable equilibrium. Macroeconomic and financial shocks were treated primarily as cyclical disruptions that could be managed to put things back on track toward a predictable destination-that of per capita GDP growth within a continuously globalising economic and financial order. But this paradigm is now being challenged by geopolitical tensions, the weaponisation of economic relations, the rapid advance of new technologies, and other factors.

Navigating economies and markets through this storm is possible, but it requires a commitment to building resilience, maintaining op...