Daniel Ben-Ami, finance and economics journalist and author, Cowardly Capitalism: The Myth of the Global Financial Casino introduced ‘Global Equality’
The growth of the emerging economies has captivated imaginations, leading to speculation that the gap between the rich world and the poor may finally be closing. But away from the headline figures is there a more complex story to be understood?
Growth remains uneven, both within and between the economies of the developing world. Commentators point to those that are being left behind. Many countries remain trapped in poverty and are seeing their way out blocked by fierce competition from their more dynamic neighbours around the globe. Are the new textile factories in China increasing poverty in Nigeria?
The largest of the world’s emerging economies, India and China, have populations greater than the population of the African continent. If these continental economies are viewed more closely the pattern of uneven development we see globally can be seen repeated within their boarders. Various regions, with populations larger than most nations have yet to be touched by the dynamism seen in Mumbai or Shanghai.
Do those who draw attention to such failings merely detract from the benefits of growth, or should their complaints be at the forefront of debate on the nature of development?
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