OFF INTO THE WILD WET YONDER How does this...
What Will the World’s Economy Look Like in the Future?
In all of the time I spend with the various groups of people in my life, the one thing that the majority seem to agree on is that the global economy, in the very near future, will look vastly different than it does today.
Opinions diverge from here, however. Some believe that just areas such as transportation, communication, and entertainment will be drastically different. Others feel that borders and countries will change. And still others think that we may not even be using money, and that banks and capital markets will be completely discarded.
From the conspiracy theorist to the conservative housewife, each seem to have their own (often strong and/or persuasive) opinion about what things will look like in 20 years. Yes, even this dear writer has an opinion and an idea.
However, the reality is that neither I, nor Mrs. Watanabe, nor your economics professor can predict with any certainty what the world will look like in, say, five years from now. Even less so for the year 2035.
In any event, as discerning citizens of the world, the best thing any of us can do—for ourselves, our families, and our communities—is to keep abreast of not only the news but also the latest innovations and ideas. We may not be able to predict, but we most certainly can prepare.
The one pure constant seems to be that things will continue to change at ever increasing speeds. And while there is an incredible amount of noise out there that will no doubt frustrate or infuriate, there’s also a lot of smart voices just waiting to be heard. And thanks to the Internet, they can be.
An example that immediately comes to mind is Dr. Pippa Malmgren.
Dr. Malmgren’s list of accomplishments is more than impressive. She is a graduate of the London School of Economics, headed a global asset management business, is a politics and policy expert who served as Special Assistant to President Bush for Economic Policy on the National Economic Council, and was a member of the President’s Working Group on Financial Markets and the President’s Working Group on Corporate Governance. She is also a member of the Council on Foreign Relations and serves on several advisory boards and working groups.
In other words, she is not only (obviously) highly intelligent but also connected to circles that the majority of us only read about.
Lars Schall, a financial journalist working in coordination with Gold Switzerland, interviewed Dr. Malmgren about a whole slew of important geopolitical and economic issues, ranging from China and Russia’s current policy of devaluing the U.S. dollar to the deflation vs. inflation debate that has been discussed since the financial crisis of 2007–08, as well as her thoughts on what the world might be using for trade in the near future.
Suffice it to say, it is a fascinating 38-minute conversation that is well worth the time.