We are using 19th century, 20th century glasses to look at 21st century problems. My name is Andrew Shang. I'm a distinguished fellow at the Asia Global Institute. The last financial crisis was the last hubra of the old model. Growth is like a takeoff of a plane, forgetting to mention that plane's stall, you know, and sometimes crash. We are moving from complicated societies to complex societies where everything from globalization is interactive, interconnected and interdependent. And standard economic theory which assumes away all the things are important. It made man a machine. We don't need these old machines. Let's get them out of the system. Forgetting the human beings, you cannot treat human beings as a machine. Human human beings are rational or irrational. That's wrong because even the word rational is biased. Rational means you're good. It's a gambler irrational, quite as only people in a speculator. We're using very wrong concepts or not to put it kindly in complete concepts to explain a much more complex, much more nuanced human being in a new world, a new world of technology and a new world of climate change, a new world of social inequality that we have to address. What we've now seen is that the emerging markets pushing the world into a multipolar order from a previously unipolar order. The rich countries can sustain big shocks because they are rich, they're very fast, they're going to save them. They've got very sophisticated systems. But for the emerging markets, it's the difference between life and death. So if you get very bad climate change as the climate wants up and the water's stressed countries, don't have enough water because there's too much heat, food security goes down, human beings cannot live, cannot get jobs, already have very incompetent governments or strained governments who cannot deal with this. We move from a fragile state, failing state to fail state and that causes human migration. Where do they migrate to? The cooler climates of advanced countries which are aging, less population, more land and it's going to create confidence. You cannot carry on doing charity, it has to be long term sustainable, a fiscal model that will be able to help the poor countries, the failing countries to get back up on their feet. If they fall back further, a divide creates a search for the divine. God may be the solution, fundamentalism is the solution. And then from religion, we are not careful, we really create a violent crisis. So we are now in a very critical period of capacity. You suddenly wake up realizing that the world has changed and you need to adapt.