It is nice to see a publication so unashamed and informed in its convictions, whether agreeable or not. See for example its stated overall editorial goal to "take part in a severe contest between intelligence, which presses forward, and an unworthy, timid ignorance obstructing our progress". At least you know what you are reading. Of course when The Economist speaks of progress it generally means it in the most conventional modernist way of everyone rising up together to be rich, powerful and participatory. It is not surprising that over 50% of Economist readers are in the USA, global superpower of record, who currently have the most to lose from critical questioning of the modus operandi of fiscal-focused globalization, free trade and technological progress. For example more threat to future global growth and survival is seen in high energy prices than in the potentially unsustainable environmental impact of a culture of consumption that promises to starve the earth of natural resources.
But for Economist readers it is a story of preaching to the choir and many are starving for confirmation of meaning in what they do and tired of the constant chatter of pessimistic critics. So it is useful to read predictions and observations on the state of the world from a veritable bible of the status quo.
The following are some of the highlights of the Economist World in 2006:
- Sometime in 2006 more than half the world's population will be living in a town or city. Contrast this with 1800 when only 3% of the population was urbanised.
- By 2026 China's economy will be bigger than America's and India's will be much larger than that of any individual European country. Russia, Brazil and Indonesia will be not be much further behind.
- The global housing boom is the biggest financial bubble in history. A further jump in oil prices could pop this bubble by undermining consumer confidence.
- The concept of "Granularity" will be the trendy focus of management and consultants worldwide as grand global strategies will be desperately out of fashion and business focuses on efficiencies and exploiting local markets.
- The top three business travel destinations in the world are Canadian - Vancouver, Calgary and Toronto. Canadian cities fare best because "they have the right mix of feelgood factors without being too expensive. The large expanse of the Canadian wilderness and its cultural diversity make cities cosmopolitan havens".
- Be prepared for turbulent currency markets as the dangers of a collapsing dollar, a fractured euro or a soaring yuan are feasible risk scenarios.
