Earlier this month Prime Minister Kevin Rudd presided over the 2020 Summit, the idea of which was to establish long-term goals for the Australia of 2020 and beyond.
At his address to the Sydney Institute just prior to the Summit he outlined the forecast global economic changes in the next 12 years.
A representative group of 100 global citizens would include 56 Asians, including 19 Chinese and 17 Indians; 16 Africans; five western Europeans; four Americans; and not one Australian.
Asia will account for 43 per cent of world GDP, bigger than the United States and Europe combined.
Australia’s annual output will be $1.4 trillion, GDP per capita will have risen from around $11,000 to $60,000. The population will have grown to 25 million, while the median age will have increased from 36 to 40 (by then still younger than I’ll be).
Two of the biggest challenges outlined for Australia by the PM were how to build a competitive economy in a world being transformed by the rise of China and India and how to become more productive, including education, skills, training, science and innovation.
Rudd is keen to begin an education revolution. “How different would it be now if we had invested the estimated $398 billion boost to the budget bottom line in the decade from 2002 into funding a total education revolution?”
We need to look beyond our shores, at the bigger picture, particularly in Chindia (China and India). Each has ploughed money into education and they are now reaping the benefits.
We also need to be aware of the changes facing us at home and within the global community.
