New Growth Factor

gaurav1987

Par 100 posts (V.I.P)
By 2030, about half or more of the purchasing power of the global economy will stem from the developing world, says the World Bank's Global Economic Prospects 2007.

This annual report on the future trends in the global economy also says that by then, emerging markets will be home to an estimated 1.15 billion middle class people.

Broad-based growth in developing countries sustained over the next 25 years would significantly affect global poverty.

"The number of people living on less than $1 a day could be cut in half, from 1.1 billion now to 550 million in 2030," the World Bank's chief economist Francois Bourguignon says.

"We expect developing economies' share in world trade to rise to almost 50% by 2030," says Richard Newfarmer, the report's lead author.

"That's a substantial increase from where we are today at about 30%."
Source - TOI
 
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