People feel they are not participating in the decision-making process. Decisions are exclusive to those at the very top. You have grown up with crony capitalism and it creates ever more resentment.

The confidence is really driven by the woman - whether she can have the confidence that there will be enough earning or income to finance all the domestic spending - but also by the middle-income class, which for many Asian countries has become the growth power for the economy.

Many developing countries are enjoying demographic changes. They have a younger demographic composition so they're not burdened by legacy policy. Now, if you combine this with a good macro policy and ambitious structural policy, those countries are able to move more flexibly and be more agile.

We now know that climate action does not require economic sacrifice. This is fully in line with the World Bank Group's findings. It is up to all of us to make smart policy choices that will help combat climate change. For example, putting a price on carbon is a necessary step and could drive resources and investments to a cleaner economy.

The problem of the food price is structural. The growth of demand cannot be checked in that it is coming from middle income countries demanding more quality and more quantity of food. High demand is here to stay.