"The external environment is indeed a big concern for us because even as we go about leadership transition and entering our next phase of development, we are doing so at a time when the world is changing, and it is going to be a new global order, which is likely to be very messy and unpredictable, because the world is in flux. The unipolar moment for America has ended. Everybody talks about going into a multipolar world but it is not quite at a stable equilibrium yet. And this period of transition will be very messy, a lot will be marked by nationalism, protectionism, excessive nationalism – nationalism itself is not a bad thing – but excessive nationalism, very aggressive nationalism, protectionism, rivalry between the major powers. The pattern of globalisation that we have benefited from in the last 30 years will also be very different."