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Antony Blondell/ Blonductions Photo-ography
Photographed by
a relatively poor country, even though it is huge and still in the institution, then Essex University, where he studied economics to
process of industrialising: “Its sheer size means that it is exerting post-graduate level.
enormous influence on the price of certain commodities in order to On graduation he re-joined the civil service for a short time,
fuel its growth. In fact, this once communist country is now more then joined Lloyds Bank, where he has been ever since. He is
capitalist than the US.” now a familiar presence on our television screens and in national
China has an ageing population and a one-child policy that newspapers commentating on the economy and financial sector.
is set to throw up its own problems, and Williams is clear about He is a member of the Institute Of Economic Affairs’ shadow
the different developmental models used by the world’s most monetary policy committee – which shadows the Bank of
populous country and India, half of whose 1.1 billion people are England’s body that sets interest rates – and is on the executive
aged under 25. committee of the influential Financial Statistics Users’ Group.
In a fast-changing world in which demographic change is going Controversially, Williams believes that we are witnessing,
to transform the way we live, Williams believes that those who on both sides of the Atlantic, a split between those with the
fail to equip themselves with the skills and knowledge to compete necessary skills and qualifications, and those without. It is the
will be left behind. The consequences for industrial failure, as young people without the necessary skills set to compete in the
‘Regulation was lax. The view was that business
knew best, which fed into an old-style bubble’
we have witnessed in the Muslim north of China with the social jobs market who will be left behind as an outcome of the failure of
unrest of its Uighur people, can be social breakdown, he says. the comprehensive school system, he says.
“China needs to provide a social safety net for its people if not He has strong views on education and training: “Unemployment,
it runs the risk of riots and other conflicts,” he continues. “It is in particular long-term unemployment, is an issue of unskilled
the absence of such a provision by the state which drives people people going backwards. It is a problem of not having the right skills.
to save so much.” Education in inner city areas, both in the US and UK, is poor and we
Brought up by a single mother – his dad Isaac, a painter and have to tackle that issue in a sensible way. Comprehensive schools
decorator died when he was very young – Williams worked briefly have failed. But you cannot replace them with faith schools. It is a
in the Department of the Environment as a clerical officer before crazy idea. You need a cohesive society and the only way of getting
returning to full-time studies. His background is certainly familiar that is by raising standards in all schools.”
to a number of people of his age. After arriving from Spanish
Town, Jamaica, he attended Vauxhall College, a further education Hal Austin is a senior editor at the Financial Times Group
028-029 Trevor Williams
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