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Climate Injustice and the Curse of Illusory Growth
Advanced economies have long relied principally on developing countries for primary commodities and natural resources to fuel their industries and economic expansion. But this has entailed high social and environmental costs for lower-income economies and, increasingly, the world as a whole.
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CAIRO – Overcoming the risk of “immiserizing” growth – an increase in aggregate national output that results in a net decline in national welfare – has been a perennial challenge as countries pursue economic development. It is also proving to be a major roadblock to achieving greater global income convergence.