00:00When I was hearing these meetings years ago, and even following the G20 from the outside,
00:06there were two themes that would really stand up as the common wisdom among them.
00:13The first was secular stagnation.
00:16The idea that in some sense all the good stuff had already been invented.
00:20That we would be managing an economy that was going to be short of investment and economic growth.
00:27Secular stagnation seems like a description of a past long ago.
00:32A new period is one of secular growth.
00:35And what I look forward to over the next couple of days with all of you is seeing and understanding
00:41what the growth prospects look like in each of your countries.
00:44Whether the growth looks cyclical or structural.
00:47And I'll just share with you my perspectives of what's happening in the U.S.
00:51And the second theme that would be common at events like this some years ago, both before the global financial
00:57crisis and the years after,
00:59was this idea that we would be in a global savings glut.
01:04That the capital would stay on the sidelines because of a shortage of opportunities.
01:10From our discussions even in the last day, that sure seems like a very long time ago.
01:14The goal of the G20 is to share those thoughts remotely so when the future does arrive or as prepared
01:20for it as possible.
01:21We'll be right back you back here.
01:21We'll be at the next tirade of GE and heart drive through our anthology.
01:21Same nhất take our hustles from our染 Unterscrrosoft family.
01:21Just as soon as left, now that we will need those chances of embracing our standard投 organizations in the body
01:21and into our compartments.
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