Goodbye 2010, Good Luck 2011

"it was the best of time, it was the worst of time" a famous quote by Charles Dickens, a famous British novelist, best described the economy outlook of the past decade. Saying good buy to 2010, and the end of the first decade of 21 century, I say we have yet to overcome all the obstacle of greatest changes in the age of globalization.

Looking at the past 10 years, from the dot-com boom and burst, collapse of financial institutions, subprime mortgage crisis, energy price in surge to international fiat-monetary system disputes, we had and have survived so far. Yet, the real challenges has yet to come. We are approaching to the true age of changes, changes where will happen in the speed of light. Therefore, we are much to learn, adapt and act upon to build a brighter future for us and the coming generation.

As history is how we learned. People believe history does represent future in some sense. I tend to agree. history does has the tendency to repeat itself, since human tend to repeat the same mistake, even though it might be in different pattern. So, what should we learn form the past 10 years in order to strive for the coming years? What are those challenges?

There are many big event and changes happened during the past 10 year since millennium. Some i personally believe to have great impact and implication to what might come in near future. Here are some which i would like to share with you all:

1. G-20 had replaced G-8 as the major international group to regulate international economy matters. This imply that, developed country had no longer dominate the world economy. Developing countries now has played a greater role to sustain and ensure the stability of international economy affair. BRIC will play a bigger role in years to come to replaced NATO nations and Japan. The formation and coordination between developed countries and developing countries will ultimately dictate the outcome of our future economy.
2. Notrth Korea and south Korea issues will be another key event to come in 2011. From Cheonan Incident to artillery assault by North Korea at South Korea's island, the tension between 2 nation has become heighten. North Korea had since abandon her offer by United Nation on the 6 parties talk to abandon her nuclear weapon project in exchange to economy aids. China has since act upon from her passive stand against North Korea issue, to host a re-talk between North Korea and the 6 parties on February 2011. President Lee Myung Bak from South Korea had agreed on the proposal provided North are sincerely committed to resolve the problem by peace. The outcome of the event will greatly influence the peace of the world for the coming future.
3. Developing country should gradually evolve from nation that exported-support-oriented country to becoming a self-technology sustainable countries. As there most products from developing countries are imported by developed nations, the current balance accounts crisis face by developed countries will greatly impact the economy growth of developing countries. Any collapses in any developed countries now will create a domino affect to the developing countries.
4. Greater globalization will continue to come in our future. The revolution of communication and financial technology will making the international trade become more flat. As book written by Thomas Friedman, "The world is flat"; this ideology will become more prevalence in years to come. For people who still live in the industrial age idea, they will be found more difficult to live and survive in the new world to come.
5. Climate changes and environmental issues. As notice in media, our world is indeed sick. Innovation of green technology will be the next trend if human would like to enjoy the privilege to enjoy the greatest thing in life in world. Fossil energy are no longer encourage to be the primary energy source. Deforestation must be stopped. Pollution both air and water must be controlled. Government and enforcement authorities must play a bigger role in regulate industrial player in global scale, educate them on the idea of balancing between economy and environmental benefit. If we wish our next generation to see deep blue sea and green forest, we should abandon any toxic application that will harm our world. or else - 2012 might come.

Above are some of the events that we need to take precaution for the years to come. In the end it is still up to each and everyone of us to wake up and act together to build a better and greater future for everyone to live in.

Happy New Year 2011!