the world is going to add for the next few decades 75 million people a year 100
more people every 42 seconds what should we try to do to be competitive in the
21st century in one year there'll be seven billion people on this planet
Mills to them want your job you know and that keeps me awake at night you know
there's someone in India so he's Indian my dreams you know who is studying and
wants to be an international finance professor at Emory and have the life I
do and if I'm not honing my skill they deserve to have it prior to teaching at
Emory University dr. Rosen flag was a professor at yale school of management
he attended yale for both his bachelor's and master's degrees in economics coated
in the national business tracks including forbes fortune and Business
Week he's appeared nationally on ABC World News Tonight and good morning
america NBC's Today Show NBC Nightly News & Nightline Bloomberg TV and he's a
frequent economic commentator for CNN let's say you were running your business
or you're thinking of starting a business most businesses are started in
this country by women for instance if they are only hearing how bad things are
going to get why would they start a business and is there any good news for
the future of the us through demographics through finance through our
trade situation the bottom line what I did is I said however many jobs are in
these various in major industries in 2000 call it a hundred and then let's
trace how many there are in those industries right up to the present month
the reason you started a hundred it's easy to see percent changes
manufacturing the bottom line new red is at something like sixty eight in other
words we only have sixty eight percent as many jobs we've lost thirty two
percent of the total jobs in manufacturing in a decade when the
country's population rose 26 million people the
genda is mostly to talk about the job market not in and of itself in a very
micro sense you know more about that than I do but how the global economy
impacts the US economy how does that affect the job market going forward can
we remain if not these superpower at least a leading superpower is it a good
time for the u.s. franchisors to expand and can that significantly contribute to
the US economy 70 million people a year over the next 20 years ninety-seven
percent of them out in the emerging markets but this is why I'm bullish
about commodities and stocks that can participate in global growth the world's
fastest growing economies are also the most populous so think how that is
changing consumer markets and in the face of business when you have billions
of people literally entering a lower middle class and then hopefully
ultimately a middle class because that the most populous nations and this isn't
just a one year thing in the case of China this has been going on for 30
years India for 20 years rapid economic growth these are the emerging markets as
we call them in finance these are the advanced nations and it just so happens
that last year the year before and projected every emerging market economy
will grow faster than all the advanced economies we were earn royalties in
these foreign currencies the word is translated they translate into many more
u.s. dollars as these foreign currencies hit record highs they can borrow by more
US dollars you know the US has a 500 million dollar trade deficit we buy so
much and his oil price goes up it could be bigger well what are the things we're
good at the international law international education forty percent of
my MBA students come from all over the world and they pay tuition but royalties
is actually a major contributor to our US international balance of payments
well what about the credit markets are we starting to see them fall at all
they are thought the interest rate now that banks lend to each other has come
down dramatically right and if they lend to each other they'll get money when
they need some let's say they have some big borrowers need some money that is
the first sign of thawing it is true that the Federal Reserve has done a good
job of throwing enough money into the banking system to get it to thaw the
jobs of the future are in health care and in education you might realize it's
in health care you might think we'd have to bring a professor for that because
with the aging of the baby boom so many of us need more physical therapy more
time in the hospital more nursing care I'm an example of that I was a
basketball player none of my students can pronounce Rosen swag so I asked him
to call me dr. J for Jeff you know of something a particular concern to me is
gender equity firms have to think about I believe the lifecycle of for instance
of woman does she have the same opportunity she had the same
expectations placed upon her as a man who made the enters a firm and does she
have enough role models we've had more babies born in the last three years in
the u.s. than any three years except for the very peak of the baby room who's
going to educate him who's gonna teach pre-k and nurseries was going to form
nursery schools maybe you can do that and child care and become an
entrepreneur who's going to teach elementary school we need a whole new
generation of teachers so the top lines are education in health care and think
about aligning yourselves with it