 By globalization, I mean flows across national borders of goods, of services, of finance, of technologies. There's never been a more progressive, more rapid force bringing more people out of poverty more quickly and improving their lives. In all these visualizations, the more red is the better. What you see here is trade, which is goods and services as a share of countries' incomes. Many countries are becoming more and more open. It's also about the spreading of health technologies, immunization around the world. Inflate mortality collapsing, life expectancy increasing on average by 20 years over this period of the last 40 years. In a world of 5 billion people in 1988, only 2 billion people could read and write. In a world of 7.5 billion people today, 6.5 billion people can read and write. This is internet connectivity around the world. Still dark places, which haven't been connected, but the story is one of transformation over a very short period of time. Despite the world's population increasing by 2 billion, the number of desperately poor people living under $1.90 a day has gone down by about 300 million over a period of about 30 years. What you see here is this doubling of incomes in China, about every 10 years over a 40 year period. This has never happened in history before. That's the good of globalization. The bad is that there are all sorts of unintended consequences. And so one of the characteristics of globalization has been the widening of inequality within countries. You see China and the incredible improvements in incomes in some regions and some parts of China where there's been no improvement at all. And if you look at the US and the Midwest of the US for example, you wonder why people are angry. You see this dramatic improvement in the coastal areas and that's why increasingly your postcode is determining your prospects, your life expectancy, your incomes, etc. And so people in the Midwest say globalization has not brought us anything. They're not imagining it. They're actually poorer than their parents in some towns. The systemic risks associated with globalization, spread of pandemics, climate change might be even more disastrous for many people around the world. You see here is rising pollution levels with pollution killing many more people now than violent crime. The orange circles are pollution deaths and the purple circles are deaths from crime. See these are unintended consequences of rapid rises in income where you don't invest enough in infrastructure and pollution control. And of course with climate change we see this dramatically as well as countries have climbed the income curve their carbon emissions have increased. So whereas the rich world accounts for the stock of carbon dioxide, now it's the emerging markets which count for an overwhelmingly larger part of the flow. We're at a crossroads for humanity. Either we'll work out how to do this, overcome poverty in the world, overcome diseases and make this the best century ever for humanity or we'll be in a downward spiral. People's incomes go down. They get angrier and the walls get higher. And in that world we're in a world which is rather dystopian, a world that is so worrying in terms of the complex risks that are unfolding that this could even be our final century. So the choice is ours really. Do we manage globalization more effectively or do we have a disastrous future?