Hamish McRae Interview

1 January 2012

Where do you see the world economically in 2020?

There will be decent global growth for some years yet, but we also know that there is such a thing as the business cycle. So we would be sensible too to expect some sort of downturn towards the end of this decade. But overall there is little doubt that the world economy will be richer in 2020 than it is in 2015.

Why do you enjoy being a speaker?

I love trying to explain a complicated subject - and I am afraid the world economy is a complicated subject - in simple language. And I find I always learn from the interaction with an audience, and sometimes learn things that I would not otherwise been able to find.

What do you do to ensure your presentation has a lasting impact?

I keep it simple and I try to craft the presentation to the audience's interests.

Who do you see as being the next big economic powers in the world?

We are in a three-speed world. The fastest growth is coming from the emerging countries, certainly China but also India, the rest of Asia, and many countries in Africa and Latin America. The next fastest is coming from the English-speaking parts of the developed world, the US of course but also the UK, Canada and Australia. And the slowest -growing regions are Europe and Japan. The challenge is for the laggards to catch up the pace in the years ahead.

How do you like to relax in your spare time?

Aside from writing, I love walking, particularly in Scotland where we have a house, and travelling - often for assignments. Family time matters too!

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