We have been so focused on the financial crises that we’ve neglected to pay attention to other issues, which, if left on the backburner could upset the status quo. Here are some nasty surprises:
§ New media:
An opportunity but also a challenge I think, it is the result of the Internet and the dramatic fall in distribution cost of all digital goods. We have seen it now, in first the music business, essentially the old music industry collapsed as the ability to distribute music was transformed… So that’s the new paradigm of the production and distribution.
§ The rise of China:
This issue is familiar. There’s not bigger event on the rise of China over the next 50 yrs. You’re basically going from roughly 300million people, who are reasonably well off, to then 600 million people and then a billion people. As all of those people get richer and richer and richer, live better, consume more, and travel more and so on, the implications off all of that for the world is historic in character.