BUS-D 503 Lecture Notes - Lecture 4: Work Ethic, Reflation, Happy Planet Index
Document Summary
D270 chapter 4 book notes 10/12/2015 (cid:1) (cid:1) (cid:1) (cid:1) (cid:1) (cid:1) Some see flattening of the world where advances in institutions, technology, and communication fundamentally change the economics of globalization: these flatliners believe that anyone, anywhere can trade anything, anytime if powered by hardware and software innovations. By 2050, 4 of the 6 largest economies in the world (japan, china, india, and russia) will be in greater asia. In 2009, emerging economies accounted for more than half of total world gdp. Budding economics in emerging markets suggests revolution has only begun. Annual growth since 2001 in emerging markets has averaged 6. 4 percent: while these markets expand, the global financial crisis slows and shrinks many developed economies, which have shown 1. 6 percent annual growth. Diminishing role of today"s rich economies along with accelerating scope of emerging ones changes investment, trade, consumption, wealth, poverty, fiscal, and monetary patterns (cid:1) Megatrends like the comeback are millennial events.
