2014 Global Economic Crisis - seen from 2100. Future of Banking industry - Futurist keynote speaker

When historians look back in 100 years time -- what will they make of the sub-prime crisis and all that followed? What links will they make between the rise of China as a mega-industrial nation, buying huge amounts of dollars, keeping their own currency low, and costs of borrowing low for developed nations. Of course we are talking about a wider issue than China, but China is a dominant force in this regard. The fact is that China's willingness to buy dollars and euros in the 2000s provided a very welcome boost for developed nations -- providing a lot of money at low interest rates. Both governments and individuals took advantage of this to spend on things they thought were important at the time -- running up huge debts, and driving these economies into a long boom, creating local jobs, improving infrastructure, health care and education. Video comment by conference keynote speaker Patrick Dixon

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• Global
• Economy
• looking
• back
• from
• 2100
• economy
• economic
• crisis
• Future
• Financial Crisis
• Futures Contract
• banks
• banking
• financial
• services
• debt
• sovereign
• wealth
• funds
• management
• liquidity
• solvency
• brankrupt
• default
• contagion

[Jimmyretired]

england had the largest ever empire, if those asian and chinese want to get their money they can kiss my ass hole

we have nukes and if the asian race pushes us too far we will attack them

[pjvdixon]

@Jimmyretired With what? No European nations have an appetite or capacity for war making - even little Libya wiped out the French and UK defence budgets, while Afghanistan has worn out America. War is a possibility as a result of the current crisis - bit more likely in my view (I hope still very unlikely) to be result of Euro-land tensions in a macabre repeat of two huge conflicts in the last century. The European Union was specifically created to try to prevent a Third World War.

[Jimmyretired]

@pjvdixon If the asians keep continuing to take jobs from england and america and if they want to expand their economy then we will go and invade them and remove their leader. We have always ruled this world, why should those people in the east want to dominate which is absurd, they are third world people,

[pjvdixon]

@Jimmyretired Oh my.... who is "we" - what country do you live in? What you are saying is very controversial.

[Jimmyretired]

@pjvdixon We being English, I live in England and im english and angry how other races and asian races want to now take over the world

[pjvdixon]

@Jimmyretired Hmmm - well I am interested in how other views think....

[pjvdixon]

History is full of idiots and accidents. Economy is complicated to understand with many unexpected consequencies from actions taken for noble reasons.

[DavidAKZ]

a lot of money was available ? Er a lot of debt was available. Do you think the transfer of wealth caused by turning a (Credit Derivatives based) banking crisis into a sovereign debt crisis was an accident ?