Are We Prepared for a Multipolar World Economy?
By 2025, six emerging economies – Brazil, China, India, Indonesia, South Korea, and Russia – will collectively account for more than half of all global growth. As dynamic emerging economies evolve to take their place at the helm of the world economy, a rethink of the conventional approach to global economic governance is needed.
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WASHINGTON, DC – At a time when the global economy is suffering from a crisis of confidence, structural imbalances, and subdued growth prospects, looking ahead ten years to predict the course of development requires careful modeling and something beyond sagacity. What is needed is a multifaceted approach that combines a sense of history with careful analysis of current forces such as the shift in the balance of global growth toward the emerging world.