Protectionist policies 'could lead to slowdown'

The first of these, according to the former governor of Hong Kong, is the risk that the world would return to the protectionist policies of the past. The threat -one that is particularly marked in the US -would stifle free trade and lead to a slowdown in world economic growth, he said. "This is the largest risk facing the world economy."

The second risk is that arising from the political tensions between the Islamic and non-Islamic world. Specifically, he referred to the importance of resolving the Palestinian and Israeli crisis and of the EU accepting Turkey's application to become a member of the Union. If Turkey were "not to join it would be very bad for bridging the gap," he said.

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He cited environmental and climate change as the third risk facing the world. The threat of nuclear war is another. "The US President, in his second year, will face the five-year renewal of the non-nuclear proliferation treaty." How will he (or she) deal with this? he asked.

The final risk arises from the so-called "failed states", countries such as Sudan, Burma and, to an extent, Columbia, which lack a "dignified authority". Patten said: "The failed states are risks for the rest of us." To deal with the "real global agenda, countries must actively and on time", he concluded.

Dr. James Martin, author and founder of the James Martin 21st Century School at the University of Oxford, also spoke on "Exploring man's impact on the global environment".