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The world is poised on the threshold of economic changes that will
reduce the income gap between the rich and poor on a global scale
while reshaping patterns of consumption. Rapid economic growth in
emerging-market economies is projected to enable consumers
worldwide to spend proportionately less on food and more on
transportation, goods, and services, which will in turn strain the
global infrastructure and accelerate climate change. The largest
gains will be made in poorer parts of the world, chiefly
sub-Saharan Africa and India, followed by China and the advanced
economies. In this new study, Tomas Hellebrandt and Paolo Mauro
detail how this important moment in world history will unfold and
serve as a warning to policymakers to prepare for the profound
effects on the world economy and the planet.
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