Emerging Challenges: What’s In Store for the New Global Powers

The emerging economies are on track to be more influential and work as a united front against the West, notes Erich Follath for Spiegel Online: “For the first time in 150 years, the combined output of the developing world's three leading economies – Brazil, China and India – is about equal to the combined GDP of the longstanding industrial powers of the North[,] Canada, France, Germany, Italy, United Kingdom and the United States.” The three countries represent about 40 percent of the world’s population, and rapid growth means the three nations have more funds for global investment along with greater political confidence. One example: “With Beijing's and New Delhi's votes – and against the wishes of the United States – Brazilian Roberto Azevêdo was chosen as the new head of the World Trade Organization (WTO) in May, and is now in a position to help shape the flow of goods around the world.” Follath also points out that the expanding middle classes in emerging economies may be fierce in resisting inequality, corruption and poor governance. – YaleGlobal