Xu Sitao, Chief Economist, Partner, Deloitte, discusses the so-called “paradigm shift” in world economics, the role of global institutions like WTO and IMF and how should business respond to geopolitical risks. “In the past, business people tended to dismiss geopolitical risks”, he says, “but what we have seen last year is that they can no longer ignore that because they need to have visibility beyond 5-7 years”.