WB Report: Emergent countries will serve as engine for economic growth

Optimism and caution: these are the key words in the annual report issued by the World Bank, regarding the development perspectives for 2007, published on Wednesday.
The emergent markets, with an economic growth estimated at 7% in 2006 and stable over 6% for the following two years, are seen as an important engine for the world economy.

The report underlines the economic globalization advantages, but also draws the attention towards two perils: social inequity growth and increased pollution.

According to the report, coordinated by Richard Newfarmer, an economic consultant within the Commerce Department in WB, the globalization would lead to the economic performance growth for the future 25 years, with a key role played by developing countries.

The basic scenario indicates a growth of the world economy from 35,000 billion dollars in 2005 to 72,000 billion dollars in 2030. Extreme poverty would decrease, while developing countries will provide 65% of the goods imported by developed countries (compared to the current 40%).

HotNews.ro, Dec 13, 2006