Think services, inclusion and green
By Christine Lagarde | China Daily | Updated: 2014-03-26 09:07
Two defining features of today's new global economy are the rise of Asia and the power of interconnections.
Less than fifty years ago, the emerging markets and developing countries accounted for less than a quarter of global GDP. Today, it is half and rising rapidly, very likely to two-thirds of global GDP within the next decade.
Asia, and China in particular, are key drivers of this astounding growth. And with their rise comes the remarkable growth of the global middle class and the rising aspirations of global citizens. In fact, some studies claim that the global middle class will exceed 5 billion people in 2030 - up from only 2 billion today.
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