Can the Poor Save the World?
The second decade of the twenty-first century is witnessing a reversal of fortune: developed economies are mired in crisis, while emerging-market countries' prospects look bright. But it is the poorer developing world that holds the key to a new global rebalancing strategy.
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PARIS – Events in 2012 so far have confirmed a new global dissymmetry. Caught between unprecedented financial insecurity and a somber economic outlook, the rich OECD countries and their middle classes fear geopolitical weakening and downward social mobility. In much of Asia, Africa, and Latin America, however, optimism reigns.