Today, talk about 'change' is commonplace. We all know genetics, the computer and Internet are reshaping the global landscape.

Human history is nothing but endless change. Change is the only permanent thing on this earth. But there has been more rapid change in the past 15 to 20 years than in the previous 100 years.

Bermuda is having to operate in the most fundamentally redesigned world's economic and politically arrangements since the Industrial Revolution.

If we are to continue our unprecedented economic and social success, we must face up boldly to the new global reality. The present generation of politicians, government, business and trade union leaders and Bermudians generally, must embrace change with civility and a completely open mind and not be encumbered by ideology, bureaucracy, biases or prejudices. We, therefore, must embrace change with vision and make change our friend.

We cannot afford to stay aloof from problems and challenges that arise from economic and social changes or to ignore their affects on Bermuda. We will need to review, adopt, even eliminate some areas of our political, social and economic policies that was, perhaps, unique and sacrosanct and served us well in the past but are out-of-step with the new global reality. The sale of the Bank of Bermuda forcefully makes the point that we have to reshape our economy if we are to stay relevant and/or viable.

We must be bullish about the future. We have huge challenges ahead but with the will and leadership, and the capacity of the human spirit, we can meet the challenge of the trends affecting us. Two of these trends are as follows.

First trend: For the first time in human history, the world is forging an awareness of its existence as a single entity. Thus nations are incorporating the same dimensions of life into the fabric of their economics, politics, culture and international relations. The definition for this is 'globalisation'.

We all have some idea of what globalisation means. We've all probably read Tom Friedman's book 'The Lexus and the Olive Tree' and discussed the issues focused by World Trade Organisation and the International Monetary Fund. But globalisation is far more than just non-western nations adopting free markets and democratic political systems. In my judgment, globalisation is the most ambitious collective experiment ever undertaken by the human race. If it succeeds, a new phase of well-being may open up for most of the human race. If it fails, it could retard progress for generations.

At its core, globalisation means that a consensus of ideas are gradually seeping into the social and political fabric of the world. And even deeper than that, globalisation is about culture, tradition, historic relationships and modes of interaction. It's about existing institutions and why and how they evolved. Look at what's happening. Nations are adopting such ideas as the sanctity of the individual, due process of law, universal education, the equality of women, human rights, private property, legal safeguards governing business and finance, science as the engine of social growth, concepts of civil society and, perhaps, most importantly, the ability of people to take charge of their destiny and not simply accept the hand dealt them in life.

Nations or countries that do not embrace change becomes disoriented and this often results in deep psychological trauma when their established traditions, relationships and old ways of doing things are no longer relevant.

If we are to maintain our economic and social success, Bermuda must not become psychologically, emotionally, socially or economically isolated from the rest of the world. Because social justice cannot prosper without economic success, unless social justice is founded on economic growth, its ability will be too stunted to satisfy any reasonable need. We, therefore, must embrace change with vision and make change our friend.

Second trend: We may have entered an exciting and unforeseen stage, without precedent, in the history of science and technology. Innovations like microchips, satellites, fibre optics and Internet allow companies to locate different parts of their production, research, accounting and marketing in different countries but still tie them together through computers, fax machines, teleconferencing and overnight package delivery as though they were in one place. The speed and low cost of moving goods, services, money and information have virtually eliminated distance as an economic factor.

In addition, we are creating super intelligent robots that can do most things that humans can do; only do it a thousand times faster and more accurate. We are also creating technology that can make genetic-based choices with designer options about all aspects of life.

One of the primary human goals, at least since Aristotle, was the pursuit of knowledge. The pursuit of knowledge leads to uncertainty. The questioning of long-held beliefs and of course change. Commonsense, therefore, demands that we re-examine long-held beliefs.

The next three decades could be the most decisive 30-year period in human history; for the first time the atom and the stars are within our reach. How do we respond to such a challenge. We're already responding to the most sweeping redefinition of life Bermuda has ever known. We're redefining and restructuring all our institutions. Corporations are redefining their mission, structure and modus operandi. In education, we're trying countless new experiments from private schools to home schools and reforms within public schools. Alternative Dispute Resolution is helping lift the burden off the back of our courts. Civic and charitable organisations are assuming functions formerly undertaken by government.

Great change creates challenges and opportunities. It also generates insecurity, and both change and insecurity will increase in the coming years. To meet these challenges we in Bermuda must, with a shared vision, rise above parochial divisions and create a climate of togetherness and continued prosperity and peace for our Island home.