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Global Sourcing of Services

Global Economic Prospects - Managing the Next Wave of Globalization

Date of Editorial Board meeting: 
Publication date: 
Monday, January 1, 2007
Abstract in English: 
The next globalization—deeper integration with the world economy through trade, flows of information technology, finance, and migration—will offer renewed and enhanced opportunities to increase productivity and raise incomes. However, along with rising average incomes may come dislocations and environmental pressures. This Global Economic Prospects analyzes three possible consequences— growing inequality, pressures in labor markets, and threats to the global commons. If these forces are left unchecked, they could slow or even derail globalization and thus adversely affect growth and development in many developing countries.The report is premised on the idea that these threats to continued global growth and poverty reduction from environmental damage, social unrest, or new increases in protectionist sentiment are potentially serious, and it is worth exploring ways that these disruptive forces might be addressed now if we wish to see sustainable global growth in the future.
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