 Over the last 30 years. Over the last 30 years. Over the last 30 years. Over the last 30 years we've seen significant changes in the fashions in macroeconomic policy. I think the main thing that we've learned is that there's no one-size-fits-all. There's no silver bullet. There's no single model that can be used in countries as diverse as China and Brazil or Peru or South Africa or Zambia. Economics is part science, part art. The science part is looking at the data, looking at the evidence and trying to build fairly simple models of how the world works. How money flows, how people respond to changes in demand or supply. The art is to try and figure out what to use when and what policy is most appropriate for a particular country at a particular time. When the gold price rises and we're a significant gold exporter, we see our currencies appreciating and we see capital flowing in. We feel richer and wealthier. But some of that is an illusion because when the gold price falls, then we see the money flowing out. How do we manage such volatility? How do we ensure that the economy can grow sustainably? The two biggest issues at the moment is the slowdown in China. We are mainly a commodity exporter and we've seen a significant reduction in the demand from China and as a result, a significant fall in the prices of our key exports. At the same time, the US is likely to increase interest rates in the next few months. Faster growth in the US is sucking capital towards the US when the US introduced quantitative easing. We saw significant appreciation of our exchange rate, which renders some of our industries uncompetitive. That's a cost of globalization. How do we stabilize the economy so that we can benefit from the gains, but at the same time protecting or limiting the shocks to the economy? So there are significant benefits, but there are costs. Those costs impact on different people differently. Often they impact most severely on the poor, on low-skilled workers, people who are least able to adjust to move to different jobs or different sectors. Over the next 30 years... Over the next 30 years... Over the next 30 years... Over the next 30 years, I think we're going to see a continuous rise of emerging markets and a continuous growth in Africa, continuous convergence between developed and developing countries if we apply the right policies. And I think globalization is likely to continue over the next 30 years, and that will challenge us. Secondly, I think technology potentially threatens certain types of jobs. Technology will enable some jobs to move from one region to another at a faster pace, and that will introduce challenges for us. Rising inequality is a significant challenge that we're facing, partly as a result of globalization and partly as a result of the way in which our economies have developed. Emerging markets have progressed slowly but steadily, and I think we'll continue to see rising living standards in most of the emerging markets, but particularly in Africa.