Tuesday, August 16, 2011

The Globalization … of Development

Project Syndicate undertakes the publication of new, weekly series The New Global Economy in which senior officials from various countries, international business leaders, and economists will comment on a world in mutation.

Excerpt from the presentation:

“Ten years ago, rich countries dominated the world economy, accounting for two-thirds of global GDP. Since then, their share has fallen to just over half. In ten years, it could decline to a mere 40%, with emerging markets producing most global output.
The pace of this shift in economic power is unprecedented, and raises as many questions as it does hopes.”

Indeed, much has been said and written about the financial aspect of globalization, but the real aspects of the world economies’ rebalancing may be more important in the medium run.  

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