FCC morning briefing by Mansoor DAILAMI
The World Bank recently published a new report, Global Development Horizons 2011,that looks at the rise of emerging economies, the associated rising use of the Chinese renminbi in trade, and what the world economy is likely to be by the year 2025.
The report says that by 2025, six major emerging economies—Brazil, China, India, Indonesia, South Korea, and Russia—will account for more than half of all global growth, and the international monetary system will likely no longer be dominated by a single currency. As economic power shifts, these successful economies will help drive growth in lower income countries through cross-border commercial and financial transactions.
The full report and press release is available at www.worldbank.org/gdh2011.