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oh
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it's going to be very different um and
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some of these Trends are continuing
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first of all we're going to see more
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countries in the world with a failed
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State I also believe the world is going
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to be older uh in 10 years from now and
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this is going to have major implications
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for companies major implications for
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governments for pension systems and then
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the third big change is going to be um
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Emerging Market multinationals one of
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the biggest trends that will be
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affecting pensions in the next next
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decade is that of global aging so the
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biggest challenge for pensions over the
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next decade and in fact over the next 50
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years I think will be to try to uh
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collect enough assets invest them
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successfully enough and help people draw
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down those assets to be able to support
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a decent retirement well the biggest
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Trend in the developed world is an aging
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Workforce uh now an aging Workforce is
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not a bad thing but the biggest trend is
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uh for people to live much longer and
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the evidence is all very powerful that
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people want to keep working longer they
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may need to financially the shape of the
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world is obviously going to be tipping
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in the direction of some of these
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developing
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economies India and China above all but
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you've got to count Brazil in got to
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look at Russia have to look at Vietnam
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uh year 2020 think about it this way
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their economies are going to be at least
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double what they are now well it's
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pretty clear that um the balance of both
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economic and financial power has shifted
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decisively toward Asia in fact that
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since we are talking about 2020 uh I
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would go out on a limb and predicting
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that uh China will have uh 20 uh brands
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in the top 100 Global Brands and the us
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will have 20 the scenario which is is
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the one that we don't like to think
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about is that things may get worse uh we
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may have a lot of problems in Europe
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because of the budget deficits and the
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austerity plans there and it's only a
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matter of time before that comes to the
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US I think it may well be a very austere
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time 10 years from now because we'll be
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paying down all the money that we're
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currently going out and borrowing
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my greatest fear is that business
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schools in 2020 look the same as they do
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in 2010 and I think that's a realistic
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fear because there's a natural
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conservatism and and Business Schools do
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many things extraordinarily well um but
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that would be dangerous because the the
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ground is Shifting beneath our feet so
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for Business Schools they need to
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embrace technology but they don't
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necessarily want to bet the farm on any
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one kind of technology so right now for
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all Business Schools it's it's the race
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to the iPad and we're going to look back
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at that 10 years from now and it's going
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to seem totally Antiquated I think going
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forward as the market in places like
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China for highlevel emba Education
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develops that we leverage this in a
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couple of ways I know there's discussion
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on the faculty and I think great support
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on the faculty for Wharton's launching
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uh what do we call it Gema Global emba
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program which would be like a Movable
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Feast we we've done a lot at the Wharton
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School right now and innovating our
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curriculum but there's a lot more that
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we could do it's not easy to change the
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footprint of something like curriculum
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and what the basic offerings are there
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are few things that are important for uh
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2020 one of them is uh sensitizing
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students to different economic
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environments so perhaps using more
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Global immersion type
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experiences uh such as you know uh
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societal entrepreneurship which you know
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is being taught in Africa for the first
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time by us uh we think that Preparing
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People now to to govern well to lead
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effectively to understand that people
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are a vital resource all these somewhat
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more tangible skills are going to be
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needed for anybody's career in the the
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world of
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2020 and since our students coming out
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now are going to be out there for the
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next 35 years we really have a a sacred
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obligation to give them the foundation
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they're going to need for that different
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world we're sure to see in the next 10
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years
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