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Global Development Horizons 2011: Multipolarity - The New Global Economy Paperback – June 13, 2011

ISBN-13: 978-1598742671 ISBN-10: 1598742671

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The days of U.S. global economic dominance are numbered. A report recently released by the World Bank predicts that by 2025, a multi-polar world will emerge in which economic clout is spread across developed and emerging economies. --Pereira, Forbes

The bank said in its 'Global Development Horizons 2011' report that global growth over the next 15 years is likely to mirror the current recovery, with emerging and developing countries growing faster than more advanced counterparts. The bank projects emerging economies to grow an average of 4.7% a year through 2025, more than double the 2.3% forecast for advanced economies. --R. Crittenden, The Wall Street Journal

The report, 'Global Development Horizons 2011 Multipolarity: The New Global Economy,' anticipates that the dollar will be joined by the euro and the renminbi as dominant international currencies. The Chinese government is already easing currency controls and has taken other steps to help the renminbi become a fully convertible reserve currency, which would make it easier for foreign companies to finance projects in China. --Motoco Rich, The New York Times

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