The New Global Economy - Project Syndicate

The New Global Economy - Project Syndicate: "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. What will happen after globalization and (often) good policies have enabled virtually all developing countries to catch up with their richer peers? And how will incumbent powers respond to the new players that economic convergence is bringing to the fore – and to their demands for a greater say in global economic governance?"



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