Will Natural Resource Constraints Derail Long-Term Global Growth?

Abstract

We are certainly living in turbulent times. At the time of this conference, we discussed the thrilling possibilities for dynamic global development fueled by technological advances. Technology diffuses from one place to the other at lightning speed. The possibility for any place that was unproductive to become productive quickly in five, or ten, or twenty years, is greater than ever before in history, and China serves as an exemplar of this. At the same time, we caught glimmers of the steepest short-term business downturn in recent memory. In my observations, I will keep my eye on the medium term, the next ten to forty years, after we have ridden the waves of the current economic storm.

Based on a luncheon speech given on April 29, 2008, at the Five-Diamond International Conference on “Thinking Outward: Global Players from Emerging Markets.”