By David Lipton.
" A rebalancing of global demand toward dynamic markets, including emerging economies, should also help complement all of these efforts."
"The World Is Not Enough
Some pundits todaylook at the world in the wake of the financial crisis and predict a future of de-globalization.
More likely
just as early auto travel adapted to accidents, we will see globalization continue but with the economic equivalent of speed limits, bumpers, and seat belts.
In that world, rising standards of living will depend on all economies making the most of their potential, while integrating into the global economy in an orderly way.
Over the next generation or two, the greatest untapped potential to drive global growth comes from the emerging and developing countries.
While we are accustomed to thinking of the development challenge, we need to shift our thinking to the convergence challenge.
A top priority will be helping emerging and developing countries achieve growth trajectories that produce a sustained convergence of living standards toward rich country levels.
Globalization with convergence will not be easy, as it will mean
a continuation of the shifting patterns of production and demand that we have seen over the last generation bring rising living standards in emerging economies, but disruption in advanced economies."
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trans nat mission revealed in benign sounding hyper abstract
bureaucrat--ese
