The world is changing faster than ever. The economic centres of power are shifting: from West to East, and from North to South. Economic liberalisation is one driver, as is the speed at which capital moves seamlessly around the world and the general demographic trends of people moving from insular communities in the countryside to faster paced environments in towns and cities. But the biggest driver is technology.
Manufacturing and IT technology is moving faster than it ever has. Small armies which can adapt and exploit new technologies quickly are taking on and defeating large armies which are wedded to long-lead capital expenditures.
Wealth is unlikely to be evenly distributed. A recent long term report from HSBC projects that by 2050 the richest countries measured by Gross Domestic Product (GDP) will be China, the USA, India and Japan, in that order. But the richest countries by Income per Capita (i …