Global Economic Prospects: Managing the Next Wave of Globalization

Over the next 25 years developing countries will move to center stage in the global economy. Global Economic Prospects 2007 analyzes the opportunities - and stresses - this will create. While rich and poor countries alike stand to benefit, the integration process will make more acute stresses already apparent today - in income inequality, in labor markets, and in the environment.Over the next 25 years, rapid technological progress, burgeoning trade in goods and services, and integration of financial markets create the opportunity for faster long-term growth. However, some regions, notably Africa, are at risk of being left behind.The coming globalization will also see intensified stresses on the ''global commons''. Addressing global warming, preserving marine fisheries, and containing infectious diseases will require effective multilateral collaboration to ensure that economic growth and poverty reduction proceed without causing irreparable harm to future generations.