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In this transcript of Peter Drucker’s speech, delivered to the Jonathan Club in 1967, Drucker discusses the changing world economy. He begins by discussing currency and the fluctuating value of the U.S. dollar. He goes on to discuss dropping birthrates in developed worlds such as Italy and Japan. He links this problem with the increase in retirement ages. Also in this speech Drucker discusses the importance of knowledge workers and the possibility of China becoming a powerhouse economy.