Summary: This overview of the Global Economic Prospects 2007 (GEP 2007) contains also the first chapter covering the general economic situation, and the regional appendices. The GEP 2007 explores the next wave of globalization using a set of growth scenarios covering 2006 to 2030. While the medium-term outlook for the world economy remains bright, demographic trends will be a major driver of future events and the benefits of globalization are likely to be uneven across regions and countries. The next wave of globalization will feature: the growing economic weight of developing countries, the potential for increased productivity by global production chains, and the accelerated diffusion of technology. Possible consequences of this globalization include: growing inequality, pressures in labor markets, and threats to the global commons. All of these developments, along with deepening economic interdependence, place a burden on the collective actions of the international community: to manage globalization or risk being run over by it.
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